Western Alliance Bancorporation (NYSE:WAL) Expected to Post Earnings of $1.20 Per Share
Wall Street analysts forecast that Western Alliance Bancorporation (NYSE:WAL) will report earnings per share (EPS) of $1.20 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Western Alliance Bancorporation’s earnings, with estimates ranging from $1.16 to $1.23. Western Alliance Bancorporation posted earnings per share of $1.05 in the same quarter last year, which indicates a positive year-over-year growth rate of 14.3%. The business is expected to report its next earnings results on Thursday, October 17th.
On average, analysts expect that Western Alliance Bancorporation will report full year earnings of $4.73 per share for the current fiscal year, with EPS estimates ranging from $4.62 to $4.84. For the next financial year, analysts expect that the company will report earnings of $5.03 per share, with EPS estimates ranging from $4.85 to $5.43. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Western Alliance Bancorporation.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.03. Western Alliance Bancorporation had a net margin of 39.87% and a return on equity of 18.18%. The business had revenue of $267.30 million during the quarter, compared to the consensus estimate of $274.37 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year.
Shares of NYSE:WAL traded up $1.53 during trading on Friday, reaching $46.00. 1,903,181 shares of the company’s stock traded hands, compared to its average volume of 649,615. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.93 and a quick ratio of 0.93. Western Alliance Bancorporation has a 12 month low of $37.39 and a 12 month high of $60.01. The company’s 50 day moving average is $43.86. The stock has a market cap of $4.65 billion, a PE ratio of 11.11, a P/E/G ratio of 0.83 and a beta of 1.60.
In other news, Director William S. Boyd bought 2,500 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was purchased at an average price of $45.25 per share, for a total transaction of $113,125.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $226,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Gary Sarver sold 66,351 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $46.71, for a total transaction of $3,099,255.21. Following the completion of the transaction, the insider now owns 59,504 shares of the company’s stock, valued at approximately $2,779,431.84. The disclosure for this sale can be found here. 7.72% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in shares of Western Alliance Bancorporation by 1,048.3% in the second quarter. Bessemer Group Inc. now owns 666 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 608 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Western Alliance Bancorporation by 180.1% in the first quarter. Signaturefd LLC now owns 846 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 544 shares in the last quarter. Private Capital Group LLC boosted its holdings in shares of Western Alliance Bancorporation by 69.6% in the first quarter. Private Capital Group LLC now owns 1,611 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 661 shares in the last quarter. Bremer Bank National Association bought a new position in shares of Western Alliance Bancorporation in the first quarter valued at approximately $97,000. Finally, Machina Capital S.A.S. bought a new position in shares of Western Alliance Bancorporation in the second quarter valued at approximately $103,000. Institutional investors and hedge funds own 82.88% of the company’s stock.
About Western Alliance Bancorporation
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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