Western Alliance Bancorporation (WAL) to Announce Quarterly Earnings on Tuesday

Posted by on Apr 11th, 2023

Western Alliance Bancorporation (NYSE:WAL – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, April 18th. Analysts expect the company to announce earnings of $2.31 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. Western Alliance Bancorporation had a net margin of 34.94% and a return on equity of 22.00%. The firm had revenue of $701.20 million during the quarter, compared to the consensus estimate of $733.13 million. During the same period in the prior year, the firm posted $2.32 earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, analysts expect Western Alliance Bancorporation to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Western Alliance Bancorporation Stock Down 0.4 %

Shares of NYSE WAL opened at $30.66 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 1.42. Western Alliance Bancorporation has a 12 month low of $7.46 and a 12 month high of $86.87. The firm has a market capitalization of $3.36 billion, a PE ratio of 3.16, a price-to-earnings-growth ratio of 0.33 and a beta of 1.36. The firm has a fifty day simple moving average of $56.42 and a two-hundred day simple moving average of $61.97.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Stockholders of record on Friday, February 17th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $1.44 annualized dividend and a dividend yield of 4.70%. Western Alliance Bancorporation’s dividend payout ratio is presently 14.85%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WAL. Truist Financial reiterated a “buy” rating and issued a $50.00 price objective on shares of Western Alliance Bancorporation in a report on Thursday, April 6th. StockNews.com assumed coverage on shares of Western Alliance Bancorporation in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Stephens lifted their target price on shares of Western Alliance Bancorporation from $80.00 to $86.00 in a research report on Thursday, January 26th. Keefe, Bruyette & Woods dropped their price target on Western Alliance Bancorporation from $85.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Finally, JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $75.00 to $36.00 in a report on Thursday, April 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Insider Transactions at Western Alliance Bancorporation

In other news, Director Marianne Boyd Johnson bought 2,475 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were bought at an average price of $25.79 per share, for a total transaction of $63,830.25. Following the purchase, the director now owns 2,475 shares in the company, valued at $63,830.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Western Alliance Bancorporation news, Director Marianne Boyd Johnson acquired 2,475 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was purchased at an average price of $25.79 per share, with a total value of $63,830.25. Following the completion of the purchase, the director now directly owns 2,475 shares in the company, valued at approximately $63,830.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Tim R. Bruckner sold 1,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.16, for a total value of $128,030.00. Following the completion of the transaction, the insider now owns 20,244 shares of the company’s stock, valued at $1,481,051.04. The disclosure for this sale can be found here. 2.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently made changes to their positions in WAL. Alliancebernstein L.P. grew its stake in shares of Western Alliance Bancorporation by 10.8% in the 4th quarter. Alliancebernstein L.P. now owns 122,158 shares of the financial services provider’s stock worth $7,276,000 after buying an additional 11,940 shares in the last quarter. Point72 Middle East FZE purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at approximately $109,000. CI Private Wealth LLC bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $1,554,000. Bridgefront Capital LLC bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at approximately $264,000. Finally, PFS Investments Inc. raised its holdings in Western Alliance Bancorporation by 22.8% during the 4th quarter. PFS Investments Inc. now owns 4,767 shares of the financial services provider’s stock valued at $284,000 after buying an additional 885 shares during the period. 84.68% of the stock is owned by institutional investors.

Western Alliance Bancorporation Company Profile

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Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.

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Earnings History for Western Alliance Bancorporation (NYSE:WAL)

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