Western Alliance Bancorporation (NYSE:WAL) issued its quarterly earnings data on Thursday. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $189.22 million for the quarter, compared to analyst estimates of $196.03 million. Western Alliance Bancorporation had a net margin of 34.95% and a return on equity of 15.12%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share.
Western Alliance Bancorporation (NYSE:WAL) traded up 1.30% during trading on Thursday, hitting $46.90. 1,237,393 shares of the stock were exchanged. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 18.76 and a beta of 1.56. Western Alliance Bancorporation has a 1-year low of $29.72 and a 1-year high of $53.84. The firm’s 50 day moving average price is $49.03 and its 200-day moving average price is $46.60.
In other Western Alliance Bancorporation news, EVP Randall S. Theisen sold 3,120 shares of Western Alliance Bancorporation stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $49.80, for a total value of $155,376.00. Following the completion of the sale, the executive vice president now directly owns 43,920 shares in the company, valued at $2,187,216. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Reoch Mcauslan sold 5,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $49.86, for a total value of $249,300.00. Following the completion of the sale, the executive vice president now owns 26,135 shares of the company’s stock, valued at $1,303,091.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 233,201 shares of company stock valued at $11,990,439. 10.27% of the stock is currently owned by corporate insiders.
Several equities analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 4th. Royal Bank of Canada reaffirmed a “buy” rating and set a $57.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, April 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $58.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, April 10th. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. Finally, Barclays PLC assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, February 14th. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.10.
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Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.
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