Brokerages forecast that Western Alliance Bancorporation (NYSE:WAL) will announce sales of $284.43 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Western Alliance Bancorporation’s earnings. The highest sales estimate is $289.60 million and the lowest is $281.00 million. Western Alliance Bancorporation posted sales of $257.12 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The firm is expected to report its next earnings report after the market closes on Thursday, January 23rd.

According to Zacks, analysts expect that Western Alliance Bancorporation will report full year sales of $1.10 billion for the current financial year, with estimates ranging from $1.10 billion to $1.13 billion. For the next financial year, analysts anticipate that the company will report sales of $1.19 billion, with estimates ranging from $1.17 billion to $1.20 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.05. Western Alliance Bancorporation had a return on equity of 17.65% and a net margin of 39.08%. The firm had revenue of $288.90 million during the quarter, compared to analysts’ expectations of $281.83 million. During the same quarter last year, the firm earned $1.05 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis.

Several equities research analysts have weighed in on WAL shares. SunTrust Banks lowered their price target on Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Stephens set a $55.00 price objective on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Thursday, October 17th. Zacks Investment Research reiterated a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a research note on Saturday, January 11th. Piper Jaffray Companies set a $62.00 price target on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Citigroup set a $58.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $58.83.

In other Western Alliance Bancorporation news, Director Todd Marshall sold 25,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $55.13, for a total transaction of $1,378,250.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 75,000 shares of company stock valued at $3,901,650 in the last ninety days. Corporate insiders own 7.72% of the company’s stock.

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Western Alliance Bancorporation by 52.0% during the first quarter. FMR LLC now owns 451,964 shares of the financial services provider’s stock worth $18,549,000 after buying an additional 154,596 shares in the last quarter. Prudential Financial Inc. increased its holdings in Western Alliance Bancorporation by 184.9% in the second quarter. Prudential Financial Inc. now owns 51,463 shares of the financial services provider’s stock valued at $2,302,000 after buying an additional 33,400 shares in the last quarter. LPL Financial LLC increased its holdings in Western Alliance Bancorporation by 13.6% in the second quarter. LPL Financial LLC now owns 5,916 shares of the financial services provider’s stock valued at $265,000 after buying an additional 710 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Western Alliance Bancorporation in the second quarter worth about $214,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Western Alliance Bancorporation by 578.0% during the 2nd quarter. Renaissance Technologies LLC now owns 120,704 shares of the financial services provider’s stock worth $5,398,000 after acquiring an additional 102,900 shares in the last quarter. 81.00% of the stock is owned by hedge funds and other institutional investors.

NYSE:WAL traded up $0.43 during mid-day trading on Monday, hitting $58.03. 526,756 shares of the company’s stock traded hands, compared to its average volume of 522,923. The company has a fifty day moving average of $56.00 and a 200 day moving average of $48.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 0.93. Western Alliance Bancorporation has a twelve month low of $38.55 and a twelve month high of $58.30. The company has a market capitalization of $5.91 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.78 and a beta of 1.69.

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

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