Western Alliance Bancorporation Forecasted to Post Q3 2024 Earnings of $1.89 Per Share (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Stock analysts at DA Davidson upped their Q3 2024 earnings per share estimates for Western Alliance Bancorporation in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $1.89 per share for the quarter, up from their prior estimate of $1.84. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.39 per share. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2025 earnings at $9.03 EPS.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The firm had revenue of $771.80 million during the quarter, compared to analyst estimates of $737.97 million. During the same quarter last year, the firm earned $1.96 EPS. Western Alliance Bancorporation’s quarterly revenue was up 15.3% on a year-over-year basis.

Several other equities research analysts also recently weighed in on the stock. Bank of America boosted their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wedbush boosted their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.87.

Western Alliance Bancorporation Trading Up 2.0 %

WAL opened at $84.41 on Friday. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $88.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a market capitalization of $9.29 billion, a PE ratio of 12.30, a P/E/G ratio of 1.57 and a beta of 1.44. The firm’s fifty day moving average price is $80.16 and its 200 day moving average price is $68.82.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of WAL. Cincinnati Insurance Co. bought a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth $46,538,000. LHM Inc. raised its holdings in shares of Western Alliance Bancorporation by 2,141.1% during the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock valued at $47,606,000 after acquiring an additional 723,995 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Western Alliance Bancorporation by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after purchasing an additional 717,242 shares during the period. Dimensional Fund Advisors LP grew its position in Western Alliance Bancorporation by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after purchasing an additional 636,577 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after purchasing an additional 395,101 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of Western Alliance Bancorporation stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the transaction, the chief accounting officer now directly owns 3,520 shares in the company, valued at approximately $267,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,265 shares of company stock worth $1,700,391 in the last three months. 2.75% of the stock is owned by company insiders.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

About Western Alliance Bancorporation

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.