$1.20 EPS Expected for Western Alliance Bancorporation (NYSE:WAL) This Quarter

Equities research analysts expect Western Alliance Bancorporation (NYSE:WAL) to report earnings of $1.20 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Western Alliance Bancorporation’s earnings, with estimates ranging from $1.17 to $1.23. Western Alliance Bancorporation posted earnings of $1.13 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.2%. The firm is expected to report its next earnings report after the market closes on Thursday, January 23rd.

On average, analysts expect that Western Alliance Bancorporation will report full year earnings of $4.78 per share for the current year, with EPS estimates ranging from $4.73 to $4.81. For the next year, analysts expect that the company will post earnings of $4.94 per share, with EPS estimates ranging from $4.86 to $5.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.05. The company had revenue of $288.90 million during the quarter, compared to analysts’ expectations of $281.83 million. Western Alliance Bancorporation had a net margin of 39.08% and a return on equity of 17.65%. Western Alliance Bancorporation’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share.

Several equities analysts recently issued reports on the company. Zacks Investment Research reissued a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a research report on Saturday, January 11th. SunTrust Banks dropped their target price on Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Stephens set a $55.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Thursday, October 17th. Citigroup set a $58.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Piper Jaffray Companies set a $62.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $58.83.

NYSE WAL traded up $0.43 on Friday, hitting $58.03. The stock had a trading volume of 526,756 shares, compared to its average volume of 522,923. The business’s fifty day moving average price is $56.00 and its 200 day moving average price is $48.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.93 and a quick ratio of 0.93. Western Alliance Bancorporation has a 52-week low of $38.55 and a 52-week high of $58.30. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.69.

In related news, Director Todd Marshall sold 25,000 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.13, for a total value of $1,378,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 75,000 shares of company stock worth $3,901,650 over the last 90 days. Insiders own 7.72% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arden Trust Co purchased a new position in Western Alliance Bancorporation in the 4th quarter valued at about $203,000. IFP Advisors Inc increased its holdings in shares of Western Alliance Bancorporation by 34.5% in the fourth quarter. IFP Advisors Inc now owns 1,899 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 487 shares during the last quarter. Cerebellum GP LLC increased its holdings in shares of Western Alliance Bancorporation by 110.5% in the fourth quarter. Cerebellum GP LLC now owns 8,144 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 4,276 shares during the last quarter. Brasada Capital Management LP lifted its position in Western Alliance Bancorporation by 68.6% during the fourth quarter. Brasada Capital Management LP now owns 10,000 shares of the financial services provider’s stock worth $570,000 after buying an additional 4,069 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Western Alliance Bancorporation by 17.1% during the 4th quarter. Artemis Investment Management LLP now owns 465,032 shares of the financial services provider’s stock worth $25,871,000 after acquiring an additional 67,995 shares during the period. 81.00% of the stock is currently owned by institutional investors.

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.

Further Reading: Understanding the different types of bonds

Get a free copy of the Zacks research report on Western Alliance Bancorporation (WAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Western Alliance Bancorporation (NYSE:WAL)

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.