Western Alliance Bancorporation (WAL) Expected to Announce Quarterly Sales of $228.90 Million

Wall Street analysts expect that Western Alliance Bancorporation (NYSE:WAL) will report $228.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Western Alliance Bancorporation’s earnings, with the highest sales estimate coming in at $234.90 million and the lowest estimate coming in at $222.40 million. Western Alliance Bancorporation reported sales of $189.85 million in the same quarter last year, which indicates a positive year over year growth rate of 20.6%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 19th.

According to Zacks, analysts expect that Western Alliance Bancorporation will report full-year sales of $228.90 million for the current fiscal year, with estimates ranging from $931.90 million to $1.00 billion. For the next financial year, analysts forecast that the firm will report sales of $1.09 billion per share, with estimates ranging from $1.04 billion to $1.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.82% and a net margin of 36.56%. The company had revenue of $224.72 million for the quarter, compared to analyst estimates of $225.19 million. During the same period in the previous year, the company posted $0.70 earnings per share.

Several equities research analysts recently weighed in on the company. DA Davidson restated a “buy” rating and set a $64.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Zacks Investment Research restated a “buy” rating and set a $64.00 price target on shares of Western Alliance Bancorporation in a research report on Saturday, January 6th. Sandler O’Neill restated a “buy” rating and set a $69.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, January 29th. Stephens assumed coverage on Western Alliance Bancorporation in a research report on Wednesday, January 17th. They set an “overweight” rating and a $68.00 price target on the stock. Finally, Barclays lifted their price target on Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $66.59.

Western Alliance Bancorporation (NYSE WAL) traded up $0.82 during midday trading on Tuesday, hitting $61.16. The company had a trading volume of 593,607 shares, compared to its average volume of 750,224. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $61.50. The company has a market capitalization of $6,440.00, a price-to-earnings ratio of 19.70, a PEG ratio of 1.15 and a beta of 1.63.

In other Western Alliance Bancorporation news, EVP Robert Reoch Mcauslan sold 3,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $56.36, for a total value of $169,080.00. Following the sale, the executive vice president now directly owns 20,200 shares of the company’s stock, valued at $1,138,472. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Randall S. Theisen sold 2,942 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $59.00, for a total value of $173,578.00. Following the completion of the sale, the executive vice president now directly owns 39,321 shares in the company, valued at $2,319,939. The disclosure for this sale can be found here. Insiders own 7.95% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC bought a new stake in Western Alliance Bancorporation in the fourth quarter worth $124,000. American International Group Inc. bought a new stake in Western Alliance Bancorporation in the fourth quarter worth $124,000. Canada Pension Plan Investment Board bought a new stake in Western Alliance Bancorporation in the third quarter worth $133,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Western Alliance Bancorporation during the second quarter valued at $202,000. Finally, Dearborn Partners LLC bought a new position in shares of Western Alliance Bancorporation during the third quarter valued at $205,000. 81.85% of the stock is currently owned by institutional investors and hedge funds.

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

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