Western Alliance Bancorporation Forecasted to Earn Q4 2017 Earnings of $0.83 Per Share (WAL)

Western Alliance Bancorporation (NYSE:WAL) – Research analysts at Jefferies Group increased their Q4 2017 earnings per share estimates for shares of Western Alliance Bancorporation in a report released on Tuesday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will post earnings per share of $0.83 for the quarter, up from their prior forecast of $0.81. Jefferies Group currently has a “Buy” rating and a $63.00 target price on the stock. Jefferies Group also issued estimates for Western Alliance Bancorporation’s Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.92 EPS and Q4 2018 earnings at $0.94 EPS.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. The company had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same period in the prior year, the business posted $0.62 earnings per share. COPYRIGHT VIOLATION NOTICE: This report was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://sportsperspectives.com/2017/10/13/western-alliance-bancorporation-forecasted-to-earn-q4-2017-earnings-of-0-83-per-share-wal.html.

Several other equities analysts have also recently issued reports on WAL. Keefe, Bruyette & Woods set a $58.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, June 26th. BidaskClub cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Barclays PLC reaffirmed an “overweight” rating and issued a $59.00 price objective (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, July 25th. Finally, SunTrust Banks, Inc. started coverage on shares of Western Alliance Bancorporation in a research note on Friday, August 18th. They issued a “buy” rating and a $59.00 price objective on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Western Alliance Bancorporation presently has an average rating of “Buy” and a consensus target price of $60.00.

Shares of Western Alliance Bancorporation (NYSE:WAL) traded down 0.57% on Wednesday, reaching $52.73. 155,668 shares of the company’s stock traded hands. Western Alliance Bancorporation has a 52 week low of $35.56 and a 52 week high of $54.29. The company has a 50 day moving average price of $49.85 and a 200 day moving average price of $48.64. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 19.04 and a beta of 1.75.

Several institutional investors and hedge funds have recently made changes to their positions in WAL. BlackRock Inc. boosted its holdings in shares of Western Alliance Bancorporation by 7,273.7% in the first quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock worth $212,988,000 after buying an additional 4,279,862 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Western Alliance Bancorporation by 38.3% in the second quarter. Westwood Holdings Group Inc. now owns 2,480,947 shares of the financial services provider’s stock worth $121,944,000 after buying an additional 686,665 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of Western Alliance Bancorporation by 532.8% in the second quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock worth $35,521,000 after buying an additional 607,885 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Western Alliance Bancorporation by 1,003.1% in the second quarter. Thrivent Financial For Lutherans now owns 572,292 shares of the financial services provider’s stock worth $28,157,000 after buying an additional 520,412 shares during the period. Finally, Fiera Capital Corp boosted its holdings in shares of Western Alliance Bancorporation by 100.8% in the second quarter. Fiera Capital Corp now owns 768,693 shares of the financial services provider’s stock worth $37,820,000 after buying an additional 385,877 shares during the period. Institutional investors own 81.23% of the company’s stock.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total value of $4,837,000.00. Following the completion of the transaction, the chairman now directly owns 54,000 shares in the company, valued at $2,611,980. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.95% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

Earnings History and Estimates for Western Alliance Bancorporation (NYSE:WAL)

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply