Jefferies Financial Group Equities Analysts Decrease Earnings Estimates for Western Alliance Bancorporation (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Stock analysts at Jefferies Financial Group lowered their Q2 2019 earnings per share (EPS) estimates for shares of Western Alliance Bancorporation in a research note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will post earnings per share of $1.16 for the quarter, down from their prior estimate of $1.17. Jefferies Financial Group also issued estimates for Western Alliance Bancorporation’s Q3 2019 earnings at $1.20 EPS, FY2019 earnings at $4.72 EPS and FY2020 earnings at $4.85 EPS.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.06. Western Alliance Bancorporation had a return on equity of 17.84% and a net margin of 40.08%. The business had revenue of $259.90 million during the quarter, compared to analysts’ expectations of $266.48 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Co increased their price objective on Twitter from $33.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 24th. Zacks Investment Research reiterated a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. Finally, ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $58.00.

NYSE:WAL opened at $45.12 on Friday. The business has a fifty day simple moving average of $43.71. The stock has a market capitalization of $4.59 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.82 and a beta of 1.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.93 and a quick ratio of 0.93. Western Alliance Bancorporation has a 1 year low of $37.39 and a 1 year high of $60.01.

In other news, Director William S. Boyd bought 2,500 shares of the stock in a transaction on Friday, May 17th. The shares were bought at an average price of $45.25 per share, with a total value of $113,125.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $226,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Gary Sarver sold 66,351 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $46.71, for a total value of $3,099,255.21. Following the completion of the sale, the insider now directly owns 59,504 shares in the company, valued at approximately $2,779,431.84. The disclosure for this sale can be found here. Corporate insiders own 7.72% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in Western Alliance Bancorporation by 180.1% in the first quarter. Signaturefd LLC now owns 846 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 544 shares during the last quarter. Private Capital Group LLC grew its holdings in Western Alliance Bancorporation by 69.6% in the first quarter. Private Capital Group LLC now owns 1,611 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 661 shares during the last quarter. Bremer Bank National Association acquired a new stake in Western Alliance Bancorporation in the first quarter valued at $97,000. First Quadrant L P CA acquired a new stake in Western Alliance Bancorporation in the first quarter valued at $184,000. Finally, Cigna Investments Inc. New acquired a new stake in Western Alliance Bancorporation in the first quarter valued at $229,000. 82.86% of the stock is currently owned by institutional investors.

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

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