Brokers Set Expectations for Western Alliance Bancorporation’s Q2 2022 Earnings (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WALGet Rating) – Investment analysts at Jefferies Financial Group reduced their Q2 2022 earnings estimates for shares of Western Alliance Bancorporation in a note issued to investors on Monday, April 11th. Jefferies Financial Group analyst C. Haire now forecasts that the financial services provider will earn $2.32 per share for the quarter, down from their prior forecast of $2.36. Jefferies Financial Group also issued estimates for Western Alliance Bancorporation’s Q4 2022 earnings at $2.62 EPS and FY2022 earnings at $9.50 EPS.

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

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

WAL opened at $76.44 on Tuesday. Western Alliance Bancorporation has a 1-year low of $73.31 and a 1-year high of $124.93. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 0.51. The company has a market cap of $8.18 billion, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 0.28 and a beta of 1.48. The company has a fifty day moving average price of $88.31 and a two-hundred day moving average price of $104.03.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 4th. Investors of record on Friday, February 18th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Thursday, February 17th. Western Alliance Bancorporation’s payout ratio is 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 on Wednesday, February 9th. The shares were 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 available at the SEC website. Also, General Counsel Randall S. Theisen sold 6,574 shares of the company’s stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $90.00, for a total transaction of $591,660.00. The disclosure for this sale can be found here. Company insiders own 2.81% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB purchased a new position in Western Alliance Bancorporation in the 1st quarter valued at $4,239,000. DNB Asset Management AS grew its position in Western Alliance Bancorporation by 7.4% in the 1st quarter. DNB Asset Management AS now owns 210,292 shares of the financial services provider’s stock valued at $17,416,000 after acquiring an additional 14,485 shares in the last quarter. Norges Bank purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $107,243,000. Westwood Holdings Group Inc. boosted its stake in shares of Western Alliance Bancorporation by 9.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 801,731 shares of the financial services provider’s stock valued at $86,306,000 after buying an additional 66,434 shares during the period. Finally, JustInvest LLC lifted its stake in Western Alliance Bancorporation by 13.6% during the fourth quarter. JustInvest LLC now owns 3,115 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 372 shares during the last quarter. Hedge funds and other 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.

Further Reading

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

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.