Brokerages Expect Western Alliance Bancorporation (NYSE:WAL) Will Post Quarterly Sales of $588.82 Million

Wall Street analysts expect Western Alliance Bancorporation (NYSE:WAL – Get Rating) to announce $588.82 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Western Alliance Bancorporation’s earnings, with the highest sales estimate coming in at $601.80 million and the lowest estimate coming in at $569.50 million. Western Alliance Bancorporation posted sales of $506.50 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.3%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Western Alliance Bancorporation will report full year sales of $2.41 billion for the current fiscal year, with estimates ranging from $2.35 billion to $2.45 billion. For the next financial year, analysts anticipate that the business will report sales of $2.81 billion, with estimates ranging from $2.77 billion to $2.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last released its quarterly earnings data on Thursday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.16. The firm 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%. The company’s revenue for the quarter was up 64.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS.

Several analysts have commented on the stock. 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. Wedbush boosted their target price on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday. StockNews.com initiated coverage on shares of Western Alliance Bancorporation in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company decreased 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 report on Tuesday, January 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $132.00.

In other Western Alliance Bancorporation news, General Counsel Randall S. Theisen sold 2,963 shares of the firm’s stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $101.96, for a total value of $302,107.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kenneth Vecchione purchased 5,000 shares of the firm’s stock in a transaction on Monday, January 31st. The stock was bought 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. Company insiders own 2.81% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $25,000. Tobam bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $40,000. National Bank of Canada FI bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $46,000. Quadrant Capital Group LLC lifted its holdings 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 during the period. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth about $69,000. 87.15% of the stock is owned by institutional investors.

WAL stock opened at $80.20 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 0.66 and a beta of 1.48. Western Alliance Bancorporation has a 12 month low of $73.31 and a 12 month high of $124.93. The firm has a 50 day moving average of $84.02 and a two-hundred day moving average of $101.77.

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

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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