Long Position on WAL @ $37.00 on 9/21/2016 (Momentum)

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 Company's segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other. The Company's Arizona, Nevada, Southern California and Northern California segments provide full-service banking and related services to their respective markets. The Company's CBL segment provides banking services to niche markets and includes the operations of Bridge Bank.

The Bank's full-service banking divisions include Alliance Bank of Arizona (ABA) in Arizona, Bank of Nevada (BON) in Southern Nevada, Bridge Bank in Northern California, First Independent Bank (FIB) in Northern Nevada and Torrey Pines Bank (TPB) in Southern California.

Shares have formed a bullish "cup and handle" and are expected to head higher. Furthermore, it is widely expected that the FOMC will not raise interest rates at its today's meeting. This would be a positive for the banks in general and this stock in particular. The bank's operations in Southern California have been a major source of growth for WAL's bottom line, and lower rates will help the company to compete in Los Angeles' hot building boom!

52-Weeks Trading Range: $26.60 - $39.11

Entry Point: $37.00

Stop Loss: $34.80

Target Price: $40.70

Updates

11/10/2016 10:23:10 AM

WAL closed at $42.20

Position closed on 11/10/2016 at price of $42.20 with a 14.05% gain in 50 days.

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