Equities Analysts Offer Predictions for Western Alliance Bancorporation’s FY2024 Earnings (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Equities researchers at Wedbush reduced their FY2024 earnings per share (EPS) estimates for Western Alliance Bancorporation in a note issued to investors on Thursday, August 1st. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $7.40 per share for the year, down from their previous estimate of $7.55. Wedbush has a “Outperform” rating and a $70.00 price target on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.36 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s Q4 2024 earnings at $2.00 EPS, Q2 2025 earnings at $2.27 EPS and FY2025 earnings at $9.35 EPS.

WAL has been the topic of a number of other research reports. Wells Fargo & Company lifted their target price on shares of Western Alliance Bancorporation from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Jefferies Financial Group upped their price objective on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Hovde Group assumed coverage on Western Alliance Bancorporation in a research note on Monday, April 22nd. They set an “outperform” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $84.27.

Western Alliance Bancorporation Stock Performance

WAL opened at $72.89 on Monday. The company has a 50 day simple moving average of $66.14 and a two-hundred day simple moving average of $62.70. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The firm has a market cap of $8.03 billion, a P/E ratio of 10.63, a PEG ratio of 1.39 and a beta of 1.45. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $82.48.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 14.18% and a net margin of 15.54%. The company had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. During the same period in the previous year, the company posted $1.96 EPS. The firm’s revenue was up 15.3% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WAL. Mirae Asset Global Investments Co. Ltd. bought a new position in Western Alliance Bancorporation in the 4th quarter valued at $1,216,000. Nisa Investment Advisors LLC grew its holdings in shares of Western Alliance Bancorporation by 42.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,754 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 3,480 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in Western Alliance Bancorporation in the 4th quarter worth about $212,000. Busey Bank bought a new stake in Western Alliance Bancorporation during the 4th quarter valued at about $202,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in Western Alliance Bancorporation by 28.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,058 shares of the financial services provider’s stock valued at $464,000 after buying an additional 1,579 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the sale, the chief accounting officer now directly owns 5,636 shares of the company’s stock, valued at $361,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total transaction of $64,200.00. Following the transaction, the chief accounting officer now owns 5,636 shares in the company, valued at $361,831.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the transaction, the insider now directly owns 36,718 shares of the company’s stock, valued at $2,806,356.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,186 shares of company stock valued at $612,410. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio 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.