Western Alliance Bancorporation Forecasted to Post Q4 2017 Earnings of $0.84 Per Share (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Stock analysts at Jefferies Group cut their Q4 2017 earnings estimates for shares of Western Alliance Bancorporation in a research note issued to investors on Monday, Zacks Investment Research reports. Jefferies Group analyst C. Haire now expects that the financial services provider will earn $0.84 per share for the quarter, down from their prior forecast of $0.85. Jefferies Group currently has a “Buy” rating and a $65.00 target price on the stock. Jefferies Group also issued estimates for Western Alliance Bancorporation’s FY2018 earnings at $4.20 EPS and FY2019 earnings at $4.65 EPS.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share.

A number of other research firms have also issued reports on WAL. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Barclays set a $62.00 target price on Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Wednesday, October 11th. Wells Fargo & Co reiterated an “outperform” rating and issued a $62.00 target price (up previously from $54.00) on shares of Western Alliance Bancorporation in a research note on Tuesday, January 9th. ValuEngine lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Finally, SunTrust Banks increased their target price on Western Alliance Bancorporation from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus target price of $63.45.

Shares of Western Alliance Bancorporation (NYSE WAL) opened at $59.06 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. Western Alliance Bancorporation has a 12 month low of $44.64 and a 12 month high of $60.25. The company has a market capitalization of $6,181.72, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.32 and a beta of 1.76.

In other Western Alliance Bancorporation news, Director William S. Boyd sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $55.55, for a total transaction of $555,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $56.36, for a total value of $169,080.00. Following the sale, the executive vice president now owns 20,200 shares of the company’s stock, valued at approximately $1,138,472. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,000 shares of company stock valued at $9,780,670. 7.95% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Maltese Capital Management LLC grew its stake in Western Alliance Bancorporation by 207.1% during the 3rd quarter. Maltese Capital Management LLC now owns 215,000 shares of the financial services provider’s stock valued at $11,412,000 after purchasing an additional 145,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Western Alliance Bancorporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock worth $366,298,000 after buying an additional 195,031 shares during the last quarter. Swiss National Bank lifted its holdings in Western Alliance Bancorporation by 6.3% during the 2nd quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock worth $8,182,000 after buying an additional 9,900 shares during the last quarter. Nicholas Investment Partners LP lifted its holdings in Western Alliance Bancorporation by 5.4% during the 2nd quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock worth $6,612,000 after buying an additional 6,944 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter worth approximately $2,182,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

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About Western Alliance Bancorporation

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.

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

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