Western Alliance Bancorporation (NYSE:WAL) Expected to Post Quarterly Sales of $546.28 Million

Brokerages expect Western Alliance Bancorporation (NYSE:WAL – Get Rating) to announce $546.28 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Western Alliance Bancorporation’s earnings, with the lowest sales estimate coming in at $535.90 million and the highest estimate coming in at $565.20 million. Western Alliance Bancorporation reported sales of $337.00 million in the same quarter last year, which indicates a positive year over year growth rate of 62.1%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Western Alliance Bancorporation will report full-year sales of $2.42 billion for the current fiscal year, with estimates ranging from $2.36 billion to $2.45 billion. For the next financial year, analysts anticipate that the company will post sales of $2.84 billion, with estimates ranging from $2.78 billion to $2.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last announced its quarterly earnings results on Thursday, January 27th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter. The company had revenue of $561.00 million during the quarter, compared to the consensus estimate of $562.46 million. Western Alliance Bancorporation had a return on equity of 22.02% and a net margin of 43.59%. Western Alliance Bancorporation’s revenue for the quarter was up 65.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 EPS.

Several research firms have recently weighed in on WAL. StockNews.com began coverage on Western Alliance Bancorporation in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, February 2nd. Finally, Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, January 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of “Buy” and a consensus target price of $127.67.

NYSE WAL traded down $0.12 during trading on Tuesday, reaching $74.98. 988,856 shares of the company’s stock were exchanged, compared to its average volume of 925,748. The stock has a market cap of $8.02 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 0.28 and a beta of 1.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 0.94. The company has a 50 day moving average price of $88.77 and a two-hundred day moving average price of $104.20. Western Alliance Bancorporation has a 1 year low of $73.31 and a 1 year high of $124.93.

The business also recently declared a quarterly dividend, which was paid on Friday, March 4th. Investors of record on Friday, February 18th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, February 17th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 16.15%.

In other Western Alliance Bancorporation news, General Counsel Randall S. Theisen sold 2,963 shares of the business’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $101.96, for a total transaction of $302,107.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Vecchione bought 5,000 shares of the company’s stock in a transaction on Monday, January 31st. The shares were acquired at an average price of $97.81 per share, for a total transaction of $489,050.00. The disclosure for this purchase can be found here. Insiders own 2.81% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAL. NEXT Financial Group Inc acquired a new position in Western Alliance Bancorporation during the 4th quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $39,000. Tobam purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $40,000. National Bank of Canada FI purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $46,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Western Alliance Bancorporation by 34.7% during the 4th quarter. Quadrant Capital Group LLC now owns 559 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.

Western Alliance Bancorporation Company Profile (Get Rating)

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates in Commercial, Consumer Related, and Corporate & Other segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services.

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