Q4 2019 Earnings Forecast for Western Alliance Bancorporation (NYSE:WAL) Issued By DA Davidson

Western Alliance Bancorporation (NYSE:WAL) – Research analysts at DA Davidson issued their Q4 2019 earnings per share estimates for shares of Western Alliance Bancorporation in a research note issued to investors on Tuesday, October 22nd. DA Davidson analyst G. Tenner anticipates that the financial services provider will earn $1.22 per share for the quarter.

A number of other equities analysts have also issued reports on WAL. Piper Jaffray Companies set a $62.00 target price on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Monday. 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. Wedbush reissued an “outperform” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, July 16th. Zacks Investment Research lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. Finally, Citigroup set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $55.83.

Shares of WAL opened at $48.40 on Thursday. The business’s 50 day moving average is $45.79 and its two-hundred day moving average is $45.02. Western Alliance Bancorporation has a 52-week low of $37.39 and a 52-week high of $50.41. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.68 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 (NYSE:WAL) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.05. Western Alliance Bancorporation had a return on equity of 17.97% and a net margin of 39.08%. The company had revenue of $288.90 million for the quarter, compared to analyst estimates of $281.83 million. During the same period in the prior year, the company posted $1.05 EPS. Western Alliance Bancorporation’s quarterly revenue was up 14.2% on a year-over-year basis.

Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in shares of Western Alliance Bancorporation by 1,048.3% during the 2nd quarter. Bessemer Group Inc. now owns 666 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 608 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at approximately $31,000. Pearl River Capital LLC acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at approximately $37,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at approximately $44,000. Finally, Meeder Asset Management Inc. raised its position in shares of Western Alliance Bancorporation by 415.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,371 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,105 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

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: Momentum Indicators

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

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