Western Alliance Bancorporation (NYSE:WAL) to Post Q4 2017 Earnings of $0.84 Per Share, Jefferies Group Forecasts

Western Alliance Bancorporation (NYSE:WAL) – Analysts at Jefferies Group cut their Q4 2017 earnings per share (EPS) estimates for Western Alliance Bancorporation in a research note issued on Monday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now forecasts that the financial services provider will post earnings of $0.84 per share for the quarter, down from their prior forecast of $0.85. Jefferies Group currently has a “Buy” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for Western Alliance Bancorporation’s FY2018 earnings at $4.20 EPS and FY2019 earnings at $4.65 EPS.

A number of other research firms have also issued reports on WAL. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Barclays set a $62.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Wells Fargo & Co reissued an “outperform” rating and issued a $62.00 price target (up from $54.00) on shares of Western Alliance Bancorporation in a research report on Tuesday, January 9th. ValuEngine lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, SunTrust Banks increased their price target on shares of Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus price target of $62.94.

Shares of Western Alliance Bancorporation (WAL) opened at $58.60 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The stock has a market cap of $6,247.12, a P/E ratio of 20.07, a PEG ratio of 1.34 and a beta of 1.76. Western Alliance Bancorporation has a 52-week low of $44.64 and a 52-week high of $60.25.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share.

In other Western Alliance Bancorporation news, Director Sung Won Sohn sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $55.89, for a total transaction of $279,450.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Gary Sarver sold 100,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $55.22, for a total value of $5,522,000.00. Following the transaction, the chief executive officer now owns 54,000 shares in the company, valued at approximately $2,981,880. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,000 shares of company stock worth $9,780,670. Insiders own 7.95% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC grew its holdings in Western Alliance Bancorporation by 0.3% during the second quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock valued at $813,000 after purchasing an additional 48 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 469 shares during the last quarter. Symphony Asset Management LLC grew its holdings in Western Alliance Bancorporation by 3.9% during the second quarter. Symphony Asset Management LLC now owns 13,815 shares of the financial services provider’s stock valued at $680,000 after purchasing an additional 513 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in Western Alliance Bancorporation by 48.4% during the third quarter. Advisor Group Inc. now owns 4,048 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 1,320 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

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Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

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Earnings History and Estimates for Western Alliance Bancorporation (NYSE:WAL)

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