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Brokerages expect Western Alliance Bancorporation (NYSE: WAL) to report earnings of $ 2.30 per share for the current fiscal quarter, according to Zack. Five analysts have estimated earnings for Western Alliance Bancorporation, with estimates ranging from $ 2.20 to $ 2.39. Western Alliance Bancorporation reported earnings per share of $ 1.93 for the same quarter last year, which would indicate a positive year-over-year growth rate of 19.2%. The company is expected to release its next quarterly results on Thursday, January 20.
On average, analysts predict that Western Alliance Bancorporation will report annual earnings of $ 8.69 per share for the current year, with EPS estimates ranging from $ 8.55 to $ 8.88. For the next fiscal year, analysts predict the company will post earnings of $ 9.71 per share, with EPS estimates ranging from $ 9.25 to $ 10.06. Zacks’ earnings per share calculations are an average based on a survey of research companies that cover Western Alliance Bancorporation.
Western Alliance Bancorporation (NYSE: WAL) last released its results on Wednesday, October 20. The financial services provider reported earnings of $ 2.28 per share for the quarter, beating the consensus estimate of $ 2.25 by $ 0.03. The company posted revenue of $ 548.50 million for the quarter, compared to a consensus estimate of $ 529.80 million. Western Alliance Bancorporation had a net margin of 46.41% and a return on equity of 22.40%. In the same quarter of the previous year, the company achieved EPS of $ 1.36.
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Several analysts have commented on WAL shares. Truist raised its price target for Western Alliance Bancorporation shares from $ 114.00 to $ 140.00 and assigned the company a “buy” rating in a research note on Monday, October 25. Bank of America began covering shares of Western Alliance Bancorporation in a research note on Monday, October 18. They set a “buy” rating and a price target of $ 150.00 for the company. Jefferies Financial Group raised its price target for Western Alliance Bancorporation shares from $ 116.00 to $ 131.00 and assigned the company a “buy” rating in a research note on Monday, October 11. Zacks investment research upgraded Western Alliance Bancorporation shares from a “hold” rating to a “buy” rating and set a price target of $ 138.00 for the company in a research note on Friday, November 5. Finally, DA Davidson raised its price target for Western Alliance Bancorporation shares from $ 120.00 to $ 145.00 and assigned the company a “buy” rating in a research note on Monday, October 25. One analyst rated the stock with a conservation rating and eleven gave the company’s stock a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $ 120.00.
Meanwhile, director Donald D. Snyder sold 4,150 company shares in a trade on Thursday, October 28. The shares were sold for an average price of $ 114.98, for a total value of $ 477,167.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Timothy W. Boothe sold 3,500 shares of the company in a trade on Monday, October 25. The stock was sold for an average price of $ 118.50, for a total trade of $ 414,750.00. Disclosure of this sale can be found here. 2.81% of the shares are currently owned by insiders.
Institutional investors have recently increased or reduced their stakes in the company. Federated Hermes Inc. increased its holdings of Western Alliance Bancorporation shares by 11,777.4% in the second quarter. Federated Hermes Inc. now owns 22,092 shares of the financial services provider valued at $ 2,051,000 after purchasing an additional 21,906 shares during the period. Segall Bryant & Hamill LLC increased its holdings of Western Alliance Bancorporation shares by 25.2% in the second quarter. Segall Bryant & Hamill LLC now owns 595,079 shares of the financial services provider valued at $ 55,245,000 after purchasing an additional 119,642 shares during the period. Macquarie Group Ltd. increased its holdings of Western Alliance Bancorporation shares by 5.9% in the second quarter. Macquarie Group Ltd. now owns 2,480,848 shares of the financial services provider valued at $ 230,347,000 after purchasing an additional 137,837 shares during the period. Bank of New York Mellon Corp increased its holdings of Western Alliance Bancorporation shares by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 633,766 shares of the financial services provider valued at $ 58,845,000 after purchasing an additional 14,476 shares during the period. Finally, the Public Employees Retirement System of Ohio increased its holdings of Western Alliance Bancorporation shares by 10.3% in the second quarter. The Ohio Public Employee Retirement System now holds 59,231 shares of the financial services provider valued at $ 5,500,000 after purchasing 5,545 more shares during the period. 85.81% of the shares are held by institutional investors and hedge funds.
NYSE: WAL traded up $ 4.44 during trading hours on Tuesday, reaching $ 103.22. 876,396 shares of the company were traded, for an average volume of 728,389. The stock has a market cap of $ 10.76 billion, a price / earnings ratio of 12.47, a PEG ratio of 0.43 and a beta of 1.54. Western Alliance Bancorporation has a 52 week low of $ 57.98 and a 52 week high of $ 124.88. The company has a debt to equity ratio of 0.49, a current ratio of 0.93, and a rapid ratio of 0.78. The company’s 50-day mobile average price is $ 113.80, and its 200-day mobile average price is $ 103.66.
The company also recently declared a quarterly dividend, which was paid on Friday, December 3. Investors of record on Friday, November 19 received a dividend of $ 0.35. This represents an annualized dividend of $ 1.40 and a return of 1.36%. The ex-dividend date of this dividend was Thursday, November 18. Western Alliance Bancorporation’s payout ratio is currently 16.91%.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorp is a banking holding company providing deposit, lending, cash management, international banking and online banking products and services. It operates through the following business sectors: Commercial; Related to consumers, and Businesses and others. The Commercial segment focuses on the provision of commercial banking and cash management products and services to small and medium-sized enterprises, specialist banking services to sophisticated commercial institutions and investors in niche industries, as well as financial services to the real estate industry. .
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