$1.20 EPS Expected for Western Alliance Bancorporation (NYSE:WAL) This Quarter

Wall Street brokerages expect Western Alliance Bancorporation (NYSE:WAL) to announce earnings per share of $1.20 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Western Alliance Bancorporation’s earnings. The highest EPS estimate is $1.22 and the lowest is $1.17. Western Alliance Bancorporation posted earnings per share of $1.13 during the same quarter last year, which would suggest a positive year over year growth rate of 6.2%. The firm is scheduled to report its next earnings results on Thursday, January 23rd.

On average, analysts expect that Western Alliance Bancorporation will report full year earnings of $4.77 per share for the current financial year, with EPS estimates ranging from $4.72 to $4.83. For the next year, analysts expect that the business will post earnings of $4.87 per share, with EPS estimates ranging from $4.80 to $4.95. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05. The company had revenue of $288.90 million during the quarter, compared to analyst estimates of $281.83 million. Western Alliance Bancorporation had a return on equity of 17.65% and a net margin of 39.08%. Western Alliance Bancorporation’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share.

Several equities research analysts have recently commented on WAL shares. SunTrust Banks reduced their price target on shares of Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Stephens set a $55.00 target price on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup set a $58.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 21st. Piper Jaffray Companies set a $62.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Zacks Investment Research raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $55.83.

In related news, Director Todd Marshall sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $50.18, for a total transaction of $1,003,600.00. Following the completion of the transaction, the director now directly owns 27,096 shares in the company, valued at approximately $1,359,677.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 50,000 shares of company stock worth $2,523,400. Insiders own 7.72% of the company’s stock.

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in Western Alliance Bancorporation by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,702,713 shares of the financial services provider’s stock worth $344,465,000 after buying an additional 296,647 shares during the period. BlackRock Inc. boosted its stake in shares of Western Alliance Bancorporation by 6.9% in the second quarter. BlackRock Inc. now owns 5,209,279 shares of the financial services provider’s stock worth $232,958,000 after acquiring an additional 334,241 shares during the period. JPMorgan Chase & Co. grew its position in shares of Western Alliance Bancorporation by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 2,240,385 shares of the financial services provider’s stock worth $99,495,000 after purchasing an additional 204,893 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Western Alliance Bancorporation by 686.7% during the second quarter. Macquarie Group Ltd. now owns 1,815,851 shares of the financial services provider’s stock worth $81,205,000 after purchasing an additional 1,585,020 shares in the last quarter. Finally, Davis Capital Partners LLC raised its stake in Western Alliance Bancorporation by 13.3% during the 2nd quarter. Davis Capital Partners LLC now owns 1,700,000 shares of the financial services provider’s stock valued at $76,024,000 after purchasing an additional 200,000 shares during the period. 81.03% of the stock is currently owned by institutional investors and hedge funds.

WAL stock traded down $0.49 during trading on Tuesday, reaching $51.76. The stock had a trading volume of 480,842 shares, compared to its average volume of 797,731. The stock’s 50 day moving average is $50.42 and its two-hundred day moving average is $46.05. The firm has a market cap of $5.35 billion, a PE ratio of 12.50, a PEG ratio of 0.73 and a beta of 1.67. Western Alliance Bancorporation has a 52 week low of $37.39 and a 52 week high of $53.60. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, November 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 24.15%.

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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