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

Western Alliance Bancorporation (NYSE:WALGet Rating) – Investment analysts at Jefferies Financial Group dropped their Q2 2022 earnings per share (EPS) estimates for shares of Western Alliance Bancorporation in a report issued on Monday, April 25th. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will post earnings of $2.28 per share for the quarter, down from their prior forecast of $2.32. Jefferies Financial Group also issued estimates for Western Alliance Bancorporation’s Q3 2022 earnings at $2.54 EPS.

Western Alliance Bancorporation (NYSE:WALGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.16. The business had revenue of $555.80 million for the quarter, compared to analyst estimates of $540.09 million. Western Alliance Bancorporation had a net margin of 41.03% and a return on equity of 22.29%. Western Alliance Bancorporation’s quarterly revenue was up 64.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 EPS.

WAL has been the topic of a number of other research reports. Wedbush boosted their price objective on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company lowered their price objective on shares of Western Alliance Bancorporation from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, January 4th. 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. Finally, StockNews.com began coverage on shares of Western Alliance Bancorporation in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $132.00.

Shares of NYSE WAL opened at $80.20 on Tuesday. The firm’s 50-day simple moving average is $84.02 and its 200 day simple moving average is $101.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 0.94. Western Alliance Bancorporation has a fifty-two week low of $73.31 and a fifty-two week high of $124.93. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 0.66 and a beta of 1.48.

The business also recently announced a quarterly dividend, which was paid on Friday, March 4th. Investors of record on Friday, February 18th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.75%. The ex-dividend date was Thursday, February 17th. Western Alliance Bancorporation’s dividend payout ratio is currently 15.57%.

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

A number of hedge funds have recently added to or reduced their stakes in WAL. FMR LLC boosted its position in shares of Western Alliance Bancorporation by 52.0% during the 1st quarter. FMR LLC now owns 451,964 shares of the financial services provider’s stock valued at $18,549,000 after purchasing an additional 154,596 shares in the last quarter. Morgan Stanley increased its holdings in Western Alliance Bancorporation by 132.1% during the 2nd quarter. Morgan Stanley now owns 212,833 shares of the financial services provider’s stock worth $19,762,000 after purchasing an additional 121,143 shares in the last quarter. Spectrum Management Group LLC acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at about $74,000. Van ECK Associates Corp lifted its stake in Western Alliance Bancorporation by 59.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,180 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 811 shares during the last quarter. Finally, Estate Counselors LLC lifted its holdings in Western Alliance Bancorporation by 56.0% during the 3rd quarter. Estate Counselors LLC now owns 16,800 shares of the financial services provider’s stock worth $1,828,000 after purchasing an additional 6,030 shares during the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation (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.

See Also

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

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