Q2 2022 Earnings Forecast for Western Alliance Bancorporation Issued By Wedbush (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WALGet Rating) – Equities researchers at Wedbush lifted their Q2 2022 earnings per share (EPS) estimates for shares of Western Alliance Bancorporation in a report released on Monday, April 25th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $2.35 for the quarter, up from their previous estimate of $2.30. Wedbush has a “Outperform” rating and a $105.00 price target on the stock. Wedbush also issued estimates for Western Alliance Bancorporation’s Q3 2022 earnings at $2.59 EPS, Q4 2022 earnings at $2.69 EPS, FY2022 earnings at $9.85 EPS, Q1 2023 earnings at $2.72 EPS, Q2 2023 earnings at $3.02 EPS, Q4 2023 earnings at $3.04 EPS and FY2023 earnings at $11.85 EPS.

WAL has been the topic of several other research reports. Wells Fargo & Company dropped their target price on Western Alliance Bancorporation from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 4th. Truist Financial decreased their price target on Western Alliance Bancorporation from $140.00 to $110.00 in a research note on Tuesday. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 2nd. Finally, StockNews.com initiated coverage on Western Alliance Bancorporation in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $128.25.

NYSE WAL opened at $76.39 on Wednesday. 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 business’s 50 day moving average is $83.58 and its two-hundred day moving average is $101.59. Western Alliance Bancorporation has a 12-month low of $73.31 and a 12-month high of $124.93. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.66 and a beta of 1.48.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, March 4th. Shareholders of record on Friday, February 18th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, February 17th. Western Alliance Bancorporation’s dividend payout ratio is presently 15.57%.

In related news, CEO Kenneth Vecchione purchased 5,000 shares of the stock in a transaction that occurred on Monday, January 31st. The stock was purchased at an average cost of $97.81 per share, for a total transaction of $489,050.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Randall S. Theisen sold 6,574 shares of the stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $90.00, for a total value of $591,660.00. The disclosure for this sale can be found here. Corporate insiders own 2.81% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Toronto Dominion Bank lifted its position in shares of Western Alliance Bancorporation by 10.7% during the third quarter. Toronto Dominion Bank now owns 1,108 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 107 shares during the last quarter. Meritage Portfolio Management lifted its holdings in Western Alliance Bancorporation by 5.2% in the fourth quarter. Meritage Portfolio Management now owns 2,840 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 140 shares during the last quarter. JustInvest LLC lifted its holdings in Western Alliance Bancorporation by 5.5% in the third quarter. JustInvest LLC now owns 2,743 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 142 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Western Alliance Bancorporation by 34.7% in the fourth 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 last quarter. Finally, UMB Bank N A MO increased its stake in shares of Western Alliance Bancorporation by 18.4% in the first quarter. UMB Bank N A MO now owns 935 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 145 shares during the period. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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