Wedbush Brokers Decrease Earnings Estimates for WAL

Western Alliance Bancorporation (NYSE:WAL - Free Report) - Stock analysts at Wedbush dropped their FY2024 earnings estimates for shares of Western Alliance Bancorporation in a research note issued on Friday, October 18th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $7.18 per share for the year, down from their prior forecast of $7.35. Wedbush has a "Outperform" rating and a $105.00 price target on the stock. The consensus estimate for Western Alliance Bancorporation's current full-year earnings is $7.39 per share. Wedbush also issued estimates for Western Alliance Bancorporation's Q4 2024 earnings at $2.05 EPS, Q2 2025 earnings at $2.06 EPS, Q3 2025 earnings at $2.16 EPS and Q4 2025 earnings at $2.16 EPS.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.42% and a net margin of 14.66%. The company had revenue of $771.80 million during the quarter, compared to analysts' expectations of $737.97 million. During the same quarter in the previous year, the business earned $1.96 EPS. Western Alliance Bancorporation's revenue was up 15.3% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on WAL. Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a report on Monday. Barclays lifted their price target on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, July 22nd. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the stock an "outperform" rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a "hold" rating to a "buy" rating and lifted their target price for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Finally, Bank of America increased their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.73.

Western Alliance Bancorporation Trading Down 5.9 %

Shares of NYSE:WAL traded down $5.04 on Monday, hitting $80.49. 2,909,761 shares of the company's stock were exchanged, compared to its average volume of 1,320,935. The business's 50 day simple moving average is $82.73 and its two-hundred day simple moving average is $70.79. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $94.28.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. Western Alliance Bancorporation's payout ratio is 22.84%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the firm's 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 owns 36,718 shares of the company's stock, valued at approximately $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the firm's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares of the company's stock, valued at approximately $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This trade represents 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 19,149 shares of company stock worth $1,539,681 in the last ninety days. 2.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Western Alliance Bancorporation by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider's stock valued at $1,911,000 after acquiring an additional 164 shares during the period. GAMMA Investing LLC lifted its position in Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 183 shares during the period. Blue Trust Inc. boosted its holdings in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 187 shares during the last quarter. Versant Capital Management Inc grew its position in Western Alliance Bancorporation by 26.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider's stock worth $73,000 after purchasing an additional 244 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds 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.