Q3 2024 EPS Estimates for Western Alliance Bancorporation (NYSE:WAL) Lowered by Analyst

Western Alliance Bancorporation (NYSE:WAL) – Analysts at Wedbush cut their Q3 2024 earnings estimates for Western Alliance Bancorporation in a research report issued to clients and investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $1.85 per share for the quarter, down from their previous estimate of $1.90. Wedbush has a “Outperform” rating and a $105.00 price objective on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.40 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s FY2024 earnings at $7.35 EPS, Q1 2025 earnings at $1.94 EPS and Q2 2025 earnings at $2.13 EPS.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Truist Financial upped their price objective on shares of Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft increased their price target on Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, Piper Sandler boosted their price objective on Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.40.

Western Alliance Bancorporation Stock Up 1.4 %

Shares of NYSE:WAL opened at $85.36 on Wednesday. The business’s 50 day moving average is $79.15 and its 200 day moving average is $67.53. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $88.92. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.61 and a beta of 1.44. 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 (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.04. The business had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.37 per share. The ex-dividend date was Friday, August 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.73%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Insider Transactions at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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 approximately $335,634. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The disclosure for this sale can be found here. Insiders sold 21,265 shares of company stock valued at $1,700,391 over the last three months. Company insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in shares of Western Alliance Bancorporation by 0.6% during the first quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock worth $1,911,000 after purchasing an additional 164 shares in the last quarter. GAMMA Investing LLC grew its stake in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after buying an additional 183 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Western Alliance Bancorporation by 26.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after buying an additional 244 shares during the last quarter. Riverwater Partners LLC raised its position in shares of Western Alliance Bancorporation by 1.0% during the 1st quarter. Riverwater Partners LLC now owns 29,467 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 287 shares in the last quarter. Finally, Madison Asset Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 0.4% during the 4th quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock worth $4,959,000 after acquiring an additional 297 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

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.