$585.42 Million in Sales Expected for Western Alliance Bancorporation (NYSE:WAL) This Quarter

Brokerages predict that Western Alliance Bancorporation (NYSE:WALGet Rating) will announce $585.42 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Western Alliance Bancorporation’s earnings, with the highest sales estimate coming in at $604.00 million and the lowest estimate coming in at $572.60 million. Western Alliance Bancorporation reported sales of $506.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The business is expected 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 $2.44 billion for the current fiscal year, with estimates ranging from $2.43 billion to $2.47 billion. For the next fiscal year, analysts expect that the company will post sales of $3.00 billion, with estimates ranging from $2.95 billion to $3.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WALGet Rating) last announced its earnings results on Thursday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.16. The company 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 21.77%. Western Alliance Bancorporation’s quarterly revenue was up 64.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 earnings per share.

A number of equities research analysts recently commented on WAL shares. Wedbush lifted their price objective on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Truist Financial decreased their target price on Western Alliance Bancorporation from $140.00 to $110.00 in a research report on Tuesday, April 26th. StockNews.com initiated coverage on shares of Western Alliance Bancorporation in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, February 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Buy” and an average price target of $128.25.

In other news, General Counsel Randall S. Theisen sold 6,574 shares of the firm’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $90.00, for a total transaction of $591,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO J. Kelly Jr. Ardrey purchased 3,000 shares of the company’s stock in a transaction dated Thursday, April 28th. The shares were acquired at an average cost of $78.67 per share, with a total value of $236,010.00. Following the purchase, the chief accounting officer now directly owns 6,090 shares of the company’s stock, valued at approximately $479,100.30. The disclosure for this purchase can be found here. Company insiders own 2.81% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in 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. FourThought Financial LLC grew its stake in Western Alliance Bancorporation by 15.6% in the 1st quarter. FourThought Financial LLC now owns 988 shares of the financial services provider’s stock worth $82,000 after buying an additional 133 shares in the last quarter. Meritage Portfolio Management grew its stake in Western Alliance Bancorporation by 5.2% in the 4th quarter. Meritage Portfolio Management now owns 2,840 shares of the financial services provider’s stock worth $306,000 after buying an additional 140 shares in the last quarter. M&T Bank Corp grew its stake in Western Alliance Bancorporation by 5.7% in the 1st quarter. M&T Bank Corp now owns 2,583 shares of the financial services provider’s stock worth $214,000 after buying an additional 140 shares in the last quarter. Finally, JustInvest LLC boosted its stake in shares of Western Alliance Bancorporation by 5.5% in the 3rd quarter. JustInvest LLC now owns 2,743 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 87.16% of the company’s stock.

Shares of Western Alliance Bancorporation stock opened at $76.07 on Monday. The firm has a fifty day moving average of $80.26 and a two-hundred day moving average of $97.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.92. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.76 and a beta of 1.44. Western Alliance Bancorporation has a 52 week low of $71.68 and a 52 week high of $124.93.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.84%. Western Alliance Bancorporation’s dividend payout ratio is 15.57%.

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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