Western Alliance Bancorporation (WAL) to Release Earnings on Tuesday

Western Alliance Bancorporation (NYSE:WAL) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 16th. Analysts expect Western Alliance Bancorporation to post earnings of $1.69 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $705.97 million. Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. During the same period last year, the firm earned $2.67 earnings per share. On average, analysts expect Western Alliance Bancorporation to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $56.67 on Monday. The business has a fifty day moving average of $59.80 and a 200 day moving average of $56.18. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 8.67 and a beta of 1.47.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.61%. Western Alliance Bancorporation’s dividend payout ratio is currently 22.63%.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Jefferies Financial Group decreased their price target on Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a report on Monday, April 8th. Barclays assumed coverage on shares of Western Alliance Bancorporation in a research note on Friday, March 8th. They set an “overweight” rating and a $91.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.60.

Institutional Trading of Western Alliance Bancorporation

Large investors have recently bought and sold shares of the business. Cetera Advisor Networks LLC increased its stake in shares of Western Alliance Bancorporation by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,984 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 247 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Western Alliance Bancorporation during the first quarter worth about $504,000. MetLife Investment Management LLC acquired a new position in Western Alliance Bancorporation in the 1st quarter valued at about $374,000. Dimensional Fund Advisors LP grew its stake in shares of Western Alliance Bancorporation by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,071,776 shares of the financial services provider’s stock valued at $88,776,000 after buying an additional 4,468 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Western Alliance Bancorporation by 13.8% during the 1st quarter. Sei Investments Co. now owns 126,197 shares of the financial services provider’s stock worth $10,440,000 after buying an additional 15,297 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About Western Alliance Bancorporation

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.