Wedbush Analysts Cut Earnings Estimates for Western Alliance Bancorporation (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Research analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for Western Alliance Bancorporation in a note issued to investors on Friday, April 19th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $1.75 per share for the quarter, down from their prior estimate of $1.81. Wedbush currently has a “Outperform” rating and a $70.00 price target on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.87 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s FY2024 earnings at $7.73 EPS, Q3 2025 earnings at $2.53 EPS, Q4 2025 earnings at $2.57 EPS and FY2025 earnings at $9.65 EPS.

A number of other equities analysts have also commented on WAL. Barclays reduced their price objective on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group decreased their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Keefe, Bruyette & Woods cut their price target on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Truist Financial cut their target price on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.56.

Western Alliance Bancorporation Stock Up 1.9 %

WAL opened at $59.81 on Monday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 8.72 and a beta of 1.47. The firm’s 50-day simple moving average is $59.43 and its 200-day simple moving average is $56.82. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. Western Alliance Bancorporation has a twelve month low of $11.35 and a twelve month high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. During the same quarter last year, the company earned $2.30 EPS.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.47%. Western Alliance Bancorporation’s dividend payout ratio is 21.57%.

Institutional Trading of Western Alliance Bancorporation

A number of large investors have recently made changes to their positions in WAL. Vanguard Group Inc. raised its position in shares of Western Alliance Bancorporation by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider’s stock worth $460,724,000 after purchasing an additional 74,824 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 3.8% in the third quarter. William Blair Investment Management LLC now owns 3,443,399 shares of the financial services provider’s stock valued at $158,293,000 after purchasing an additional 125,392 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Western Alliance Bancorporation by 50.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,452,203 shares of the financial services provider’s stock worth $161,339,000 after buying an additional 824,636 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Western Alliance Bancorporation by 103.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock valued at $113,510,000 after buying an additional 876,413 shares during the last quarter. Finally, FMR LLC lifted its stake in Western Alliance Bancorporation by 39.6% in the 3rd quarter. FMR LLC now owns 1,371,939 shares of the financial services provider’s stock valued at $63,068,000 after acquiring an additional 389,327 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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.