Analysts have a consensus target price of $ 38.44 in the 12-month period. The price objective is 13.33% higher than the recent closing price of $ 33.92. The 52-week price range is $ 26.60 – 39.11 and the company has a market capitalization of $ 3.51B. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. zero analyst has rated the stock with a sell rating, 1 has assigned a hold rating, zero says it’s a buy, and 4 have assigned a strong buy rating to the company.
Wal-Mart Stores, Inc. (WMT) announced on March 29, 2016 that its wholly owned subsidiary, Western Alliance Bank, has signed a definitive agreement to acquire GE Capital’s domestic select-service hotel franchise finance loan portfolio. The acquisition includes loans outstanding of about $1.4 billion. Additionally, approximately 35 members of GE Capital’s team that is focused on this sector and already based in Scottsdale, Ariz., will become part of Western Alliance.
“This acquisition gives Western Alliance the opportunity to establish a new presence in the attractive risk-adjusted return, select-service hotel industry,” said Robert Sarver, Chairman and Chief Executive Officer of Western Alliance. “The exceptional underwriting and credit management strength of GE Capital’s franchise finance team, the terms of the transaction and Western Alliance’s executives’ experience in the hotel space, makes this acquisition both financially and strategically compelling on behalf of our shareholders.”
The transaction is expected to be immediately accretive to WAL’s earnings per share, while essentially neutral to liquidity and capital ratios due to its strong deposit growth and industry-leading capital generation rates. The transaction is expected to close in April.
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