Western Alliance Bancorp (NYSE:WAL) – Equities researchers at Jefferies Group dropped their Q4 2016 EPS estimates for Western Alliance Bancorp in a note issued to investors on Tuesday. Jefferies Group analyst C. Haire now forecasts that the firm will post earnings per share of $0.66 for the quarter, down from their previous estimate of $0.67. Jefferies Group has a “Buy” rating and a $42.00 price target on the stock. Jefferies Group also issued estimates for Western Alliance Bancorp’s Q1 2017 earnings at $0.68 EPS, Q2 2017 earnings at $0.70 EPS, Q3 2017 earnings at $0.72 EPS and Q4 2017 earnings at $0.74 EPS.

Western Alliance Bancorp (NYSE:WAL) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Western Alliance Bancorp had a net margin of 35.86% and a return on equity of 14.48%.

Earnings History and Estimates for Western Alliance Bancorp (NYSE:WAL)

Several other research analysts also recently weighed in on WAL. Zacks Investment Research downgraded shares of Western Alliance Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 25th. Wells Fargo & Co. began coverage on shares of Western Alliance Bancorp in a research note on Thursday, September 1st. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.10.

Western Alliance Bancorp (NYSE:WAL) opened at 37.22 on Thursday. The firm has a 50-day moving average of $37.45 and a 200-day moving average of $35.45. Western Alliance Bancorp has a 1-year low of $26.60 and a 1-year high of $39.52. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.15 and a beta of 1.61.

In other Western Alliance Bancorp news, Director Marianne Boyd Johnson sold 4,500 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $37.90, for a total transaction of $170,550.00. Following the transaction, the director now directly owns 3,295 shares in the company, valued at approximately $124,880.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel P. Myers sold 15,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $36.00, for a total transaction of $540,000.00. Following the transaction, the executive vice president now owns 62,359 shares in the company, valued at $2,244,924. The disclosure for this sale can be found here. Company insiders own 10.27% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of WAL. TCI Wealth Advisors Inc. boosted its stake in shares of Western Alliance Bancorp by 1.3% in the second quarter. TCI Wealth Advisors Inc. now owns 5,191 shares of the financial services provider’s stock worth $169,000 after buying an additional 66 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Western Alliance Bancorp by 0.9% in the first quarter. Loomis Sayles & Co. L P now owns 62,607 shares of the financial services provider’s stock worth $2,090,000 after buying an additional 535 shares during the period. Foundry Partners LLC boosted its stake in shares of Western Alliance Bancorp by 8.4% in the second quarter. Foundry Partners LLC now owns 7,125 shares of the financial services provider’s stock worth $233,000 after buying an additional 550 shares during the period. BB&T Corp boosted its stake in shares of Western Alliance Bancorp by 5.3% in the second quarter. BB&T Corp now owns 14,546 shares of the financial services provider’s stock worth $474,000 after buying an additional 735 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Western Alliance Bancorp by 7.7% in the second quarter. Guggenheim Capital LLC now owns 16,498 shares of the financial services provider’s stock worth $539,000 after buying an additional 1,184 shares during the period. Hedge funds and other institutional investors own 79.09% of the company’s stock.

Western Alliance Bancorp Company Profile

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.

5 Day Chart for NYSE:WAL

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