Western Alliance Bancorporation Forecasted to Post FY2024 Earnings of $7.40 Per Share (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Analysts at Wedbush lowered their FY2024 EPS estimates for Western Alliance Bancorporation in a report released on Thursday, August 1st. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $7.40 per share for the year, down from their previous estimate of $7.55. Wedbush has a “Outperform” rating and a $70.00 price objective on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.36 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s Q4 2024 earnings at $2.00 EPS, Q2 2025 earnings at $2.27 EPS and FY2025 earnings at $9.35 EPS.

Several other research analysts also recently weighed in on WAL. Stephens reissued an “overweight” rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. Jefferies Financial Group boosted their target price on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada raised their target price on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods decreased their price objective on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.27.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $72.89 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.21. Western Alliance Bancorporation has a 1 year low of $38.81 and a 1 year high of $82.48. The company has a market cap of $8.03 billion, a PE ratio of 10.63, a PEG ratio of 1.39 and a beta of 1.45. The stock’s 50-day moving average price is $66.14 and its two-hundred day moving average price is $62.70.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 14.18% and a net margin of 15.54%. The company had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. During the same period in the previous year, the firm earned $1.96 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC grew its stake in Western Alliance Bancorporation by 80.5% during the second quarter. Quest Partners LLC now owns 20,282 shares of the financial services provider’s stock worth $1,274,000 after buying an additional 9,043 shares during the last quarter. Arizona State Retirement System raised its position in shares of Western Alliance Bancorporation by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 29,302 shares of the financial services provider’s stock valued at $1,841,000 after acquiring an additional 720 shares during the period. Generate Investment Management Ltd raised its holdings in Western Alliance Bancorporation by 14.9% in the second quarter. Generate Investment Management Ltd now owns 575,894 shares of the financial services provider’s stock worth $36,178,000 after purchasing an additional 74,823 shares during the period. Chilton Capital Management LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth $54,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Western Alliance Bancorporation by 5.5% during the 2nd quarter. Natixis Advisors LLC now owns 291,390 shares of the financial services provider’s stock valued at $18,305,000 after purchasing an additional 15,108 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the sale, the chief accounting officer now directly owns 3,520 shares in the company, valued at $267,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the sale, the chief accounting officer now directly owns 3,520 shares in the company, valued at approximately $267,344. The disclosure for this sale can be found here. Insiders sold 8,186 shares of company stock valued at $612,410 over the last quarter. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 2.03%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Western Alliance Bancorporation Company Profile

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.