Western Alliance Bancorporation (NYSE:WAL) Expected to Earn Q3 2024 Earnings of $1.89 Per Share

Western Alliance Bancorporation (NYSE:WAL) – Equities researchers at DA Davidson lifted their Q3 2024 earnings estimates for Western Alliance Bancorporation in a research report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $1.89 per share for the quarter, up from their prior estimate of $1.84. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.39 per share. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2025 earnings at $9.03 EPS.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The business had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same period in the previous year, the firm earned $1.96 EPS. The business’s revenue was up 15.3% on a year-over-year basis.

A number of other analysts have also recently weighed in on the stock. Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Western Alliance Bancorporation from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.87.

Western Alliance Bancorporation Trading Up 2.0 %

NYSE WAL opened at $84.41 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $88.92. The stock has a market capitalization of $9.29 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. The firm has a 50 day moving average of $80.16 and a two-hundred day moving average of $68.75.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 1.75%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the sale, the chief accounting officer now directly owns 3,520 shares of the company’s stock, valued at approximately $267,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of Western Alliance Bancorporation stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the sale, the chief accounting officer now owns 3,520 shares of the company’s stock, valued at approximately $267,344. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,265 shares of company stock worth $1,700,391 over the last 90 days. Insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $722,000. Sanctuary Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $221,000. LHM Inc. lifted its position in shares of Western Alliance Bancorporation by 55.4% during the 2nd quarter. LHM Inc. now owns 52,554 shares of the financial services provider’s stock worth $3,301,000 after buying an additional 18,740 shares during the last quarter. Creative Planning lifted its position in shares of Western Alliance Bancorporation by 6.1% during the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock worth $362,000 after buying an additional 330 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Western Alliance Bancorporation by 18.8% during the 2nd quarter. Algert Global LLC now owns 145,540 shares of the financial services provider’s stock worth $9,143,000 after buying an additional 22,989 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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.