Equities analysts expect Western Alliance Bancorporation (NYSE:WAL) to post earnings per share of $0.93 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Western Alliance Bancorporation’s earnings, with the highest EPS estimate coming in at $0.95 and the lowest estimate coming in at $0.92. Western Alliance Bancorporation posted earnings of $0.70 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.9%. The firm is expected to report its next quarterly earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Western Alliance Bancorporation will report full year earnings of $4.01 per share for the current fiscal year, with EPS estimates ranging from $3.86 to $4.15. For the next year, analysts expect that the company will report earnings of $4.57 per share, with EPS estimates ranging from $4.39 to $4.73. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Western Alliance Bancorporation.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.50% and a net margin of 36.56%. The company had revenue of $224.72 million during the quarter, compared to analysts’ expectations of $225.19 million. During the same period in the prior year, the company earned $0.70 EPS.
A number of brokerages have recently commented on WAL. ValuEngine upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Barclays increased their price target on Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Stephens began coverage on Western Alliance Bancorporation in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 price target for the company. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Wells Fargo upgraded Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.59.
In related news, EVP Randall S. Theisen sold 2,942 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $59.00, for a total transaction of $173,578.00. Following the completion of the transaction, the executive vice president now directly owns 39,321 shares of the company’s stock, valued at approximately $2,319,939. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP J. Kelly Jr. Ardrey sold 538 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $60.30, for a total value of $32,441.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,602 shares of company stock valued at $4,889,831. 7.95% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of WAL. Cerebellum GP LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $124,000. American International Group Inc. acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $124,000. Canada Pension Plan Investment Board acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $133,000. Dearborn Partners LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $205,000. Finally, MAI Capital Management acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $208,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Shares of Western Alliance Bancorporation (WAL) traded up $0.53 on Friday, hitting $60.71. The stock had a trading volume of 1,261,392 shares, compared to its average volume of 718,577. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $62.49. The company has a market cap of $6,346.36, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.15 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34.
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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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