Zacks: Brokerages Anticipate Western Alliance Bancorporation (WAL) to Post $1.06 EPS

Wall Street analysts forecast that Western Alliance Bancorporation (NYSE:WAL) will announce $1.06 earnings per share for the current quarter, Zacks reports. Six analysts have issued estimates for Western Alliance Bancorporation’s earnings. The highest EPS estimate is $1.11 and the lowest is $1.02. Western Alliance Bancorporation reported earnings of $0.85 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.7%. The firm is expected to announce its next quarterly earnings report on Thursday, January 24th.

On average, analysts expect that Western Alliance Bancorporation will report full year earnings of $4.07 per share for the current fiscal year, with EPS estimates ranging from $4.02 to $4.12. For the next fiscal year, analysts anticipate that the company will report earnings of $4.57 per share, with EPS estimates ranging from $4.45 to $4.61. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 18th. The financial services provider reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The business had revenue of $238.46 million during the quarter, compared to analysts’ expectations of $247.04 million. Western Alliance Bancorporation had a net margin of 39.69% and a return on equity of 17.27%. During the same period in the prior year, the business earned $0.79 earnings per share.

A number of brokerages have recently commented on WAL. Barclays reduced their target price on shares of Western Alliance Bancorporation from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 22nd. Citigroup reduced their target price on shares of Western Alliance Bancorporation from $69.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, October 22nd. Stephens restated a “buy” rating and set a $68.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 19th. Wells Fargo & Co set a $66.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.80.

In other news, Director Michael Patriarca acquired 2,140 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was purchased at an average cost of $46.78 per share, for a total transaction of $100,109.20. Following the completion of the transaction, the director now owns 8,875 shares in the company, valued at $415,172.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.48% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in Western Alliance Bancorporation by 44.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,344 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 1,023 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in shares of Western Alliance Bancorporation during the third quarter valued at about $209,000. Atria Investments LLC acquired a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $210,000. Fiduciary Trust Co. acquired a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $215,000. Finally, Signition LP acquired a new stake in shares of Western Alliance Bancorporation during the third quarter valued at about $236,000. Hedge funds and other institutional investors own 83.52% of the company’s stock.

Shares of NYSE WAL traded down $0.66 during mid-day trading on Friday, reaching $48.54. The company’s stock had a trading volume of 530,800 shares, compared to its average volume of 696,009. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.00 and a beta of 1.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. Western Alliance Bancorporation has a 1-year low of $45.53 and a 1-year high of $64.06.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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