Equities research analysts expect that Western Alliance Bancorporation (NYSE:WAL) will post sales of $307.62 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Western Alliance Bancorporation’s earnings, with the highest sales estimate coming in at $323.80 million and the lowest estimate coming in at $277.00 million. Western Alliance Bancorporation posted sales of $268.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, July 16th.
On average, analysts expect that Western Alliance Bancorporation will report full-year sales of $1.18 billion for the current financial year, with estimates ranging from $1.12 billion to $1.21 billion. For the next financial year, analysts forecast that the business will post sales of $1.19 billion, with estimates ranging from $1.17 billion to $1.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Western Alliance Bancorporation.
Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.11. Western Alliance Bancorporation had a return on equity of 15.69% and a net margin of 35.68%. The firm had revenue of $285.40 million during the quarter, compared to analysts’ expectations of $287.33 million. During the same period last year, the firm posted $1.16 EPS. The business’s revenue was up 9.8% on a year-over-year basis.
In other Western Alliance Bancorporation news, CFO Dale Gibbons acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $32.75 per share, with a total value of $65,500.00. Following the purchase, the chief financial officer now owns 218,788 shares of the company’s stock, valued at approximately $7,165,307. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. D. V. M. Nave acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $32.99 per share, for a total transaction of $329,900.00. Following the purchase, the director now directly owns 249,776 shares in the company, valued at approximately $8,240,110.24. The disclosure for this purchase can be found here. Insiders bought a total of 17,500 shares of company stock worth $575,525 over the last 90 days. 7.72% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of WAL. FMR LLC raised its stake in Western Alliance Bancorporation by 52.0% during the 1st 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 during the period. CWM LLC raised its stake in Western Alliance Bancorporation by 15.3% during the 4th quarter. CWM LLC now owns 4,329 shares of the financial services provider’s stock worth $247,000 after buying an additional 575 shares during the period. California Public Employees Retirement System raised its stake in Western Alliance Bancorporation by 14.8% during the 4th quarter. California Public Employees Retirement System now owns 251,471 shares of the financial services provider’s stock worth $14,334,000 after buying an additional 32,414 shares during the period. Emerald Advisers LLC raised its stake in Western Alliance Bancorporation by 21.8% during the 4th quarter. Emerald Advisers LLC now owns 26,993 shares of the financial services provider’s stock worth $1,539,000 after buying an additional 4,837 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at about $173,000. 83.16% of the stock is currently owned by institutional investors and hedge funds.
WAL stock traded up $2.50 during midday trading on Friday, reaching $42.92. 1,563,235 shares of the company’s stock traded hands, compared to its average volume of 1,073,683. The company has a 50-day simple moving average of $33.15 and a two-hundred day simple moving average of $44.95. Western Alliance Bancorporation has a 1-year low of $20.90 and a 1-year high of $58.94. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 9.52 and a beta of 1.82. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.25 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. Western Alliance Bancorporation’s dividend payout ratio is currently 20.66%.
Western Alliance Bancorporation Company Profile
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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