Q4 2023 Earnings Estimate for Western Alliance Bancorporation Issued By DA Davidson (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL – Free Report) – Research analysts at DA Davidson issued their Q4 2023 earnings estimates for shares of Western Alliance Bancorporation in a note issued to investors on Tuesday, October 24th. DA Davidson analyst G. Tenner anticipates that the financial services provider will earn $1.96 per share for the quarter. DA Davidson currently has a “Buy” rating and a $64.00 target price on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $8.11 per share.

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Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last issued its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.06. Western Alliance Bancorporation had a return on equity of 18.70% and a net margin of 20.97%. The firm had revenue of $716.20 million during the quarter, compared to analyst estimates of $686.59 million. During the same period last year, the company posted $2.42 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis.

Several other equities analysts have also weighed in on the stock. Piper Sandler reduced their price objective on shares of Western Alliance Bancorporation from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company dropped their price target on Western Alliance Bancorporation from $65.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday. Stephens reissued an “overweight” rating and set a $65.00 price objective on shares of Western Alliance Bancorporation in a research note on Wednesday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, October 20th. Finally, UBS Group upped their target price on Western Alliance Bancorporation from $61.00 to $66.00 in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.87.

Check Out Our Latest Analysis on WAL

Western Alliance Bancorporation Trading Down 1.3 %

Shares of WAL stock opened at $40.60 on Wednesday. The stock has a 50-day simple moving average of $46.62 and a 200 day simple moving average of $41.63. The stock has a market capitalization of $4.45 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.51 and a beta of 1.42. Western Alliance Bancorporation has a fifty-two week low of $7.46 and a fifty-two week high of $81.17. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.94.

Institutional Investors Weigh In On Western Alliance Bancorporation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new stake in shares of Western Alliance Bancorporation during the 1st quarter valued at about $667,000. Grandeur Peak Global Advisors LLC bought a new stake in Western Alliance Bancorporation in the first quarter worth approximately $1,066,000. DNB Asset Management AS increased its stake in shares of Western Alliance Bancorporation by 6.6% during the 2nd quarter. DNB Asset Management AS now owns 162,486 shares of the financial services provider’s stock worth $5,926,000 after purchasing an additional 10,019 shares during the last quarter. Evoke Wealth LLC bought a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at $225,000. Finally, Wescott Financial Advisory Group LLC acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at $355,000. Hedge funds and other institutional investors own 72.04% of the company’s stock.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, August 10th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.27%.

Western Alliance Bancorporation Company Profile

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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.

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