Western Alliance Bancorporation to Post FY2024 Earnings of $7.80 Per Share, Wedbush Forecasts (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Equities researchers at Wedbush dropped their FY2024 earnings estimates for shares of Western Alliance Bancorporation in a note issued to investors on Thursday, May 2nd. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $7.80 for the year, down from their previous forecast of $7.85. Wedbush 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 $7.57 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $2.36 EPS and Q3 2025 earnings at $2.47 EPS.

Several other research analysts have also recently commented on the company. Jefferies Financial Group reduced their price target on Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada decreased their target price on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Stephens reaffirmed an “overweight” rating and set a $82.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.56.

Western Alliance Bancorporation Trading Down 0.4 %

NYSE WAL opened at $62.16 on Monday. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 9.06 and a beta of 1.47. Western Alliance Bancorporation has a 52 week low of $25.21 and a 52 week high of $70.23. The stock’s 50 day moving average price is $59.41 and its two-hundred day moving average price is $57.82. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. During the same quarter in the prior year, the company earned $2.30 EPS.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.38%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of WAL. Smead Capital Management Inc. bought a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at about $77,957,000. Barclays PLC boosted its stake 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 last quarter. Norges Bank bought a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $67,758,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Western Alliance Bancorporation by 103.2% during the fourth 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 acquiring an additional 876,413 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in 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 acquiring an additional 824,636 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

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.