Zacks: Analysts Anticipate Western Alliance Bancorporation (NYSE:WAL) Will Post Earnings of $1.20 Per Share

Wall Street analysts expect Western Alliance Bancorporation (NYSE:WAL) to post $1.20 earnings per share for the current quarter, according to Zacks. Six analysts have made estimates for Western Alliance Bancorporation’s earnings. The highest EPS estimate is $1.23 and the lowest is $1.18. Western Alliance Bancorporation posted earnings of $1.05 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The firm is scheduled to issue its next earnings report after the market closes on Thursday, October 17th.

According to Zacks, analysts expect that Western Alliance Bancorporation will report full year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.71 to $4.79. For the next financial year, analysts expect that the firm will post earnings of $4.94 per share, with EPS estimates ranging from $4.82 to $5.21. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.03. The business had revenue of $267.30 million for the quarter, compared to analysts’ expectations of $274.37 million. Western Alliance Bancorporation had a return on equity of 17.76% and a net margin of 39.87%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 EPS.

WAL has been the topic of a number of recent research reports. Zacks Investment Research cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. SunTrust Banks dropped their price objective 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. Finally, Wedbush reissued an “outperform” rating on shares of Western Alliance Bancorporation in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $57.00.

WAL traded down $0.03 during trading on Friday, reaching $45.69. 341,650 shares of the company were exchanged, compared to its average volume of 811,587. The company’s 50-day moving average is $45.03 and its two-hundred day moving average is $44.82. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 0.63 and a beta of 1.66. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. Western Alliance Bancorporation has a 12-month low of $37.39 and a 12-month high of $54.90.

Several large investors have recently added to or reduced their stakes in WAL. Macquarie Group Ltd. raised its holdings in shares of Western Alliance Bancorporation by 686.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,815,851 shares of the financial services provider’s stock valued at $81,205,000 after acquiring an additional 1,585,020 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Western Alliance Bancorporation by 123.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,566,801 shares of the financial services provider’s stock valued at $70,068,000 after acquiring an additional 865,456 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Western Alliance Bancorporation by 220.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 736,526 shares of the financial services provider’s stock valued at $33,939,000 after buying an additional 506,817 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Western Alliance Bancorporation by 6.9% during the 2nd quarter. BlackRock Inc. now owns 5,209,279 shares of the financial services provider’s stock valued at $232,958,000 after buying an additional 334,241 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Western Alliance Bancorporation by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,702,713 shares of the financial services provider’s stock valued at $344,465,000 after buying an additional 296,647 shares in the last quarter. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

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

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