Jefferies Group Comments on Western Alliance Bancorporation’s Q3 2017 Earnings (WAL)
Western Alliance Bancorporation (NYSE:WAL) – Analysts at Jefferies Group boosted their Q3 2017 earnings per share (EPS) estimates for Western Alliance Bancorporation in a note issued to investors on Monday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings per share of $0.78 for the quarter, up from their prior forecast of $0.75. Jefferies Group currently has a “Buy” rating and a $54.00 target price on the stock. Jefferies Group also issued estimates for Western Alliance Bancorporation’s Q4 2017 earnings at $0.81 EPS, FY2017 earnings at $3.05 EPS and FY2018 earnings at $3.55 EPS.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a return on equity of 15.54% and a net margin of 35.67%. The company had revenue of $203.19 million for the quarter, compared to the consensus estimate of $203.71 million. During the same quarter last year, the company posted $0.62 earnings per share. ILLEGAL ACTIVITY NOTICE: “Jefferies Group Comments on Western Alliance Bancorporation’s Q3 2017 Earnings (WAL)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/19/jefferies-group-comments-on-western-alliance-bancorporations-q3-2017-earnings-wal-updated-updated-updated.html.
A number of other brokerages have also recently issued reports on WAL. Barclays PLC reiterated an “overweight” rating and set a $59.00 price objective (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday. BidaskClub cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Keefe, Bruyette & Woods set a $58.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, June 26th. Zacks Investment Research cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $57.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $56.60.
Western Alliance Bancorporation (NYSE:WAL) opened at 50.34 on Tuesday. Western Alliance Bancorporation has a one year low of $33.28 and a one year high of $53.84. The firm has a market cap of $5.24 billion, a P/E ratio of 18.18 and a beta of 1.73. The firm’s 50-day moving average price is $48.82 and its 200 day moving average price is $48.88.
Several large investors have recently made changes to their positions in the company. Monarch Partners Asset Management LLC bought a new stake in shares of Western Alliance Bancorporation during the first quarter worth about $6,406,000. Emerald Mutual Fund Advisers Trust raised its position in Western Alliance Bancorporation by 31.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 186,834 shares of the financial services provider’s stock worth $9,172,000 after buying an additional 44,620 shares during the last quarter. Investment Counselors of Maryland LLC acquired a new position in Western Alliance Bancorporation during the first quarter worth $186,000. IFP Advisors Inc raised its position in Western Alliance Bancorporation by 2.4% in the first quarter. IFP Advisors Inc now owns 21,639 shares of the financial services provider’s stock worth $1,062,000 after buying an additional 504 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Western Alliance Bancorporation by 33.9% in the first quarter. Russell Investments Group Ltd. now owns 143,138 shares of the financial services provider’s stock worth $7,036,000 after buying an additional 36,258 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.
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