Jefferies Group Weighs in on Western Alliance Bancorporation’s Q4 2017 Earnings (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Investment analysts at Jefferies Group cut their Q4 2017 EPS estimates for Western Alliance Bancorporation in a research report issued on Monday, Zacks Investment Research reports. 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 estimate of $0.85. Jefferies Group has a “Buy” rating and a $65.00 price objective 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.

WAL has been the subject of several other research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $64.50 target price on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. Barclays lifted their target price on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Stephens began coverage on shares of Western Alliance Bancorporation in a report on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 target price for the company. Wells Fargo & Co upgraded shares of Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Monday. Finally, DA Davidson reiterated a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $66.59.

Western Alliance Bancorporation (WAL) traded up $1.28 during trading on Wednesday, reaching $59.94. 690,769 shares of the company traded hands, compared to its average volume of 726,535. Western Alliance Bancorporation has a 12-month low of $44.64 and a 12-month high of $60.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $6,170.99, a P/E ratio of 19.34, a PEG ratio of 1.29 and a beta of 1.76.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.82%. The business had revenue of $224.72 million during the quarter, compared to the consensus estimate of $225.19 million. During the same quarter last year, the firm earned $0.70 EPS.

Several institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 0.3% during the 2nd quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 48 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Western Alliance Bancorporation by 15.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the last quarter. Symphony Asset Management LLC lifted its position in shares of Western Alliance Bancorporation by 3.9% during the 2nd quarter. Symphony Asset Management LLC now owns 13,815 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 513 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of Western Alliance Bancorporation by 0.3% during the 4th quarter. GW&K Investment Management LLC now owns 320,452 shares of the financial services provider’s stock worth $18,144,000 after purchasing an additional 958 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Western Alliance Bancorporation by 72.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,060 shares during the last quarter. 81.80% of the stock is owned by institutional investors and hedge funds.

In other Western Alliance Bancorporation news, EVP Randall S. Theisen sold 2,942 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total value of $173,578.00. Following the completion of the transaction, the executive vice president now owns 39,321 shares in the company, valued at $2,319,939. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marianne Boyd Johnson sold 4,000 shares of Western Alliance Bancorporation stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total transaction of $217,680.00. Following the sale, the director now directly owns 3,295 shares of the company’s stock, valued at $179,313.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,942 shares of company stock valued at $560,338. Insiders own 7.95% of the company’s stock.

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About Western Alliance Bancorporation

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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