Western Alliance Bancorporation (NYSE:WAL) encountered a drop of 3.3% or -122,127 shares in the short positions. The number dropped from 3,702,984 on May 31,2016 to 3,580,857 on June 15,2016. The final interest is 3.8% of the floated stock. The days to cover figure of 4 can be arrived using the average daily exchange of 1,020,812 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Western Alliance Bancorporation (NYSE:WAL): The stock opened at $32.38 on Friday but the bulls could not build on the opening and the stock topped out at $33.16 for the day. The stock traded down to $31.49 during the day, due to lack of any buying support eventually closed down at $31.77 with a loss of -8.71% for the day. The stock had closed at $34.80 on the previous day. The total traded volume was 9,059,311 shares.
The company shares have dropped -6.31% from its 1 Year high price. On Nov 11, 2015, the shares registered one year high at $39.11 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $35.47 and the 200 Day Moving Average price is recorded at $33.67.
Western Alliance Bancorporation (NYSE:WAL) has tumbled 5.95% during the past week and has dropped 15.3% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.39%. Western Alliance Bancorporation (NYSE:WAL) has underperformed the index by 12.74% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Western Alliance Bancorporation (WAL) is a bank holding company. The Company provides a range of deposits, lending, treasury management, and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Companys segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL) and Corporate & Other. Its Arizona, Nevada, and California segments provide full-service banking and related services to their respective markets. It provides a range of financial services to customers, including commercial real estate (CRE) loans, construction and land development loans, commercial loans and consumer loans, through the Bank and its banking divisions, and operating subsidiaries. It offers a range of deposit products, including checking accounts, money market accounts and other types of deposit accounts, such as fixed-rate and fixed maturity retail certificates of deposit.