Q3 2024 EPS Estimates for Western Alliance Bancorporation Increased by Analyst (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WALFree Report) – Investment analysts at Wedbush upped their Q3 2024 earnings estimates for shares of Western Alliance Bancorporation in a research note issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $2.13 per share for the quarter, up from their prior estimate of $2.09. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.90 per share.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last posted its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $705.97 million. Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. During the same quarter in the previous year, the company posted $2.67 earnings per share.

A number of other brokerages have also recently issued reports on WAL. Barclays initiated coverage on shares of Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an “overweight” rating and a $91.00 price objective for the company. Citigroup raised their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Truist Financial boosted their target price on Western Alliance Bancorporation from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, December 15th. DA Davidson restated a “buy” rating and set a $85.00 price target on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st. Finally, StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.59.

View Our Latest Analysis on WAL

Western Alliance Bancorporation Stock Down 0.0 %

Shares of WAL opened at $64.19 on Friday. The firm has a market cap of $7.07 billion, a P/E ratio of 9.81 and a beta of 1.46. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23. The stock has a 50 day simple moving average of $60.91 and a two-hundred day simple moving average of $55.05. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s payout ratio is currently 22.63%.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in shares of Western Alliance Bancorporation by 170.4% in the 3rd quarter. Invesco Ltd. now owns 1,294,476 shares of the financial services provider’s stock valued at $59,507,000 after purchasing an additional 815,737 shares during the period. Dark Forest Capital Management LP lifted its position in Western Alliance Bancorporation by 16.7% during the third quarter. Dark Forest Capital Management LP now owns 11,976 shares of the financial services provider’s stock valued at $551,000 after buying an additional 1,713 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at $4,873,000. Barclays PLC grew its position in shares of Western Alliance Bancorporation by 489.0% in the 3rd quarter. Barclays PLC now owns 1,333,881 shares of the financial services provider’s stock worth $61,320,000 after buying an additional 1,107,431 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Western Alliance Bancorporation by 23.7% in the 4th quarter. Nordea Investment Management AB now owns 98,083 shares of the financial services provider’s stock worth $6,525,000 after acquiring an additional 18,785 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Company Profile

(Get Free Report)

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 through Commercial and Consumer Related 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; demand deposits; 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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