Research Analysts Issue Forecasts for Western Alliance Bancorporation’s Q2 2024 Earnings (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Western Alliance Bancorporation in a research note issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $1.80 per share for the quarter. DA Davidson currently has a “Buy” rating and a $78.00 target price on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.83 per share. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2024 earnings at $7.50 EPS and FY2025 earnings at $8.60 EPS.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. JPMorgan Chase & Co. dropped their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Keefe, Bruyette & Woods dropped their target price on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. Truist Financial dropped their target price on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Barclays dropped their target price on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.56.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $59.81 on Wednesday. The stock has a market capitalization of $6.59 billion, a PE ratio of 8.72 and a beta of 1.47. Western Alliance Bancorporation has a 52-week low of $11.35 and a 52-week high of $70.23. The stock’s 50-day moving average price is $59.43 and its 200 day moving average price is $56.82. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.40.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. During the same quarter in the previous year, the firm posted $2.30 EPS.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of WAL. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC lifted its stake in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after buying an additional 183 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Western Alliance Bancorporation by 422.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after buying an additional 760 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in Western Alliance Bancorporation in the 4th quarter valued at approximately $65,000. Finally, Fortitude Family Office LLC purchased a new stake in Western Alliance Bancorporation in the 4th quarter valued at approximately $93,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s payout ratio is currently 21.57%.

Western Alliance Bancorporation Company Profile

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.