DA Davidson Has Pessimistic Outlook of WAL FY2024 Earnings

Western Alliance Bancorporation (NYSE:WAL - Free Report) - Analysts at DA Davidson decreased their FY2024 EPS estimates for shares of Western Alliance Bancorporation in a report issued on Tuesday, October 22nd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $7.19 per share for the year, down from their previous forecast of $7.38. The consensus estimate for Western Alliance Bancorporation's current full-year earnings is $7.22 per share. DA Davidson also issued estimates for Western Alliance Bancorporation's FY2025 earnings at $8.85 EPS.

Several other equities analysts have also weighed in on the company. Truist Financial cut their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Monday. Piper Sandler cut their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research report on Monday. Barclays reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday. Wells Fargo & Company lifted 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 research note on Tuesday, October 1st. Finally, Wedbush upped their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $92.60.

Western Alliance Bancorporation Stock Performance

WAL traded up $1.53 on Thursday, reaching $83.88. The stock had a trading volume of 1,162,731 shares, compared to its average volume of 1,324,570. The business's 50-day moving average price is $83.04 and its two-hundred day moving average price is $71.03. The company has a market cap of $9.23 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.28 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. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WAL. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation in the first quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation in the 3rd quarter valued at about $31,000. GAMMA Investing LLC lifted its position in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider's stock valued at $32,000 after buying an additional 183 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $33,000. Finally, ORG Partners LLC purchased a new position in Western Alliance Bancorporation during the second quarter worth about $36,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now directly owns 4,056 shares in the company, valued at $335,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now directly 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 position. 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. Insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 22.84%.

About Western Alliance Bancorporation

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.