$2.32 EPS Expected for Western Alliance Bancorporation (NYSE:WAL) This Quarter

Analysts expect Western Alliance Bancorporation (NYSE:WALGet Rating) to report earnings of $2.32 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Western Alliance Bancorporation’s earnings, with estimates ranging from $2.21 to $2.41. Western Alliance Bancorporation posted earnings per share of $2.29 during the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Western Alliance Bancorporation will report full year earnings of $9.79 per share for the current year, with EPS estimates ranging from $9.16 to $10.11. For the next financial year, analysts expect that the firm will report earnings of $11.73 per share, with EPS estimates ranging from $11.08 to $12.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WALGet Rating) last issued its quarterly earnings data 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. Western Alliance Bancorporation had a net margin of 41.03% and a return on equity of 21.77%. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $540.09 million. During the same period in the prior year, the company posted $1.90 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 64.9% on a year-over-year basis.

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

NYSE WAL opened at $73.87 on Friday. The stock has a 50-day simple moving average of $80.15 and a 200 day simple moving average of $97.65. Western Alliance Bancorporation has a twelve month low of $71.68 and a twelve month high of $124.93. The stock has a market capitalization of $8.00 billion, a PE ratio of 8.22, a P/E/G ratio of 0.78 and a beta of 1.44. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, May 12th. Western Alliance Bancorporation’s payout ratio is presently 15.57%.

In other news, CAO J. Kelly Jr. Ardrey bought 2,000 shares of the stock in a transaction dated Thursday, May 12th. The stock was bought at an average cost of $73.57 per share, with a total value of $147,140.00. Following the purchase, the chief accounting officer now owns 8,090 shares of the company’s stock, valued at $595,181.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Randall S. Theisen sold 6,574 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was 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. Insiders purchased 5,150 shares of company stock valued at $394,784 over the last ninety days. 2.81% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Western Alliance Bancorporation by 21.5% during the first quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider’s stock worth $411,724,000 after purchasing an additional 880,430 shares during the period. State Street Corp lifted its holdings in shares of Western Alliance Bancorporation by 4.7% in the first quarter. State Street Corp now owns 2,857,144 shares of the financial services provider’s stock valued at $236,629,000 after purchasing an additional 127,683 shares in the last quarter. Echo Street Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the first quarter worth about $1,041,000. Engineers Gate Manager LP raised its position in Western Alliance Bancorporation by 60.7% in the 1st quarter. Engineers Gate Manager LP now owns 25,702 shares of the financial services provider’s stock valued at $2,129,000 after buying an additional 9,707 shares during the last quarter. Finally, Capital Group Private Client Services Inc. lifted its stake in Western Alliance Bancorporation by 0.4% in the 1st quarter. Capital Group Private Client Services Inc. now owns 232,140 shares of the financial services provider’s stock valued at $19,226,000 after acquiring an additional 856 shares in the last quarter. 87.16% 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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