Western Alliance Bancorporation (WAL) to Release Earnings on Thursday

Western Alliance Bancorporation (NYSE:WAL) will be releasing its earnings data after the market closes on Thursday, October 17th. Analysts expect Western Alliance Bancorporation to post earnings of $1.90 per share for the quarter.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The firm had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same quarter in the previous year, the firm posted $1.96 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts expect Western Alliance Bancorporation to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Western Alliance Bancorporation Trading Up 2.8 %

NYSE:WAL opened at $86.12 on Thursday. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.60 and a beta of 1.44. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $88.92. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The business’s 50-day simple moving average is $80.30 and its 200 day simple moving average is $69.17.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is 21.57%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WAL. Piper Sandler lifted their price target on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Truist Financial boosted their target price on shares of Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Barclays boosted their price objective on Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their target price on Western Alliance Bancorporation from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.53.

Insider Activity

In related news, insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares in the company, valued at $650,843.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares in the company, valued at $650,843.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares in the company, valued at approximately $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,265 shares of company stock worth $1,700,391. Company insiders own 2.75% of the company’s stock.

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.