Western Alliance Bancorporation (NYSE:WAL – Free Report) – Stock analysts at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for Western Alliance Bancorporation in a research note issued to investors on Friday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $1.75 for the quarter, down from their previous estimate of $1.81. Wedbush currently has a “Outperform” rating and a $70.00 target price on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.87 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s FY2024 earnings at $7.73 EPS, Q3 2025 earnings at $2.53 EPS, Q4 2025 earnings at $2.57 EPS and FY2025 earnings at $9.65 EPS.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last issued its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. During the same quarter last year, the company earned $2.30 earnings per share.
Western Alliance Bancorporation Stock Performance
Shares of WAL stock opened at $59.81 on Monday. Western Alliance Bancorporation has a 12 month low of $11.35 and a 12 month high of $70.23. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The company has a market cap of $6.59 billion, a P/E ratio of 8.72 and a beta of 1.47. The firm has a fifty day moving average price of $59.43 and a 200 day moving average price of $56.82.
Western Alliance Bancorporation Announces Dividend
The company also recently disclosed 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 of this dividend was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.47%. Western Alliance Bancorporation’s payout ratio is currently 21.57%.
Hedge Funds Weigh In On Western Alliance Bancorporation
A number of large investors have recently modified their holdings of WAL. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation in the first quarter worth $27,000. GAMMA Investing LLC increased its holdings in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after buying an additional 183 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Western Alliance Bancorporation by 422.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 760 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $65,000. Finally, Fortitude Family Office LLC purchased a new position in Western Alliance Bancorporation in the 4th quarter valued at approximately $93,000. 79.15% of the stock is owned by hedge funds and other institutional investors.
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.
See Also
- Five stocks we like better than Western Alliance Bancorporation
- Using the MarketBeat Dividend Tax Calculator
- Charles Schwab Fortifies its Uptrend on EPS Beat
- How to Calculate Stock Profit
- Lockheed Martin Stock Aims for a Fresh All-Time High
- What is a Low P/E Ratio and What Does it Tell Investors?
- Beyond the Halving: The Future of Bitcoin Mining Stocks
Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.