Research Analysts Set Expectations for Western Alliance Bancorporation’s Q3 2024 Earnings (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Equities research analysts at Wedbush lowered their Q3 2024 earnings per share estimates for shares of Western Alliance Bancorporation in a report released on Tuesday, September 24th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $1.85 per share for the quarter, down from their previous estimate of $1.90. Wedbush has a “Outperform” rating and a $105.00 price objective on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.41 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s FY2024 earnings at $7.35 EPS, Q1 2025 earnings at $1.94 EPS and Q2 2025 earnings at $2.13 EPS.

Several other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Jefferies Financial Group raised their price objective on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Truist Financial upped their price objective on shares of Western Alliance Bancorporation from $88.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.40.

Western Alliance Bancorporation Stock Down 1.7 %

Shares of NYSE WAL opened at $84.85 on Wednesday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.63 and a beta of 1.44. The company’s 50-day simple moving average is $78.93 and its 200-day simple moving average is $67.42. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 52-week low of $38.81 and a 52-week high of $88.92.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The business had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 earnings per share.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after buying an additional 395,101 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Western Alliance Bancorporation by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after purchasing an additional 717,242 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Western Alliance Bancorporation by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after buying an additional 636,577 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Western Alliance Bancorporation by 0.7% during the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after purchasing an additional 20,876 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its position in shares of Western Alliance Bancorporation by 5.9% in the 1st quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider’s stock valued at $105,378,000 after purchasing an additional 91,535 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. The disclosure for this sale can be found here. Insiders have sold 21,265 shares of company stock valued at $1,700,391 over the last 90 days. 2.75% of the stock is owned by insiders.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 1.74%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 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.