What is DA Davidson’s Forecast for WAL FY2024 Earnings?

Western Alliance Bancorporation (NYSE:WAL) – Equities research analysts at DA Davidson reduced their FY2024 earnings estimates for shares of Western Alliance Bancorporation in a research report issued on Tuesday, October 22nd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $7.19 per share for the year, down from their previous forecast of $7.38. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.22 per share. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2025 earnings at $8.85 EPS.

WAL has been the subject of several other reports. JPMorgan Chase & Co. decreased their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday. Piper Sandler decreased their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday. Wedbush boosted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Barclays lowered their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. One investment 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, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average target price of $92.60.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $83.88 on Thursday. The company has a market capitalization of $9.23 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The business’s 50-day moving average price is $83.04 and its two-hundred day moving average price is $71.03. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $94.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 22.84%.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares of the company’s stock, valued at $2,806,356.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Barbara Kennedy sold 11,083 shares of the business’s 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 directly owns 7,977 shares in the company, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,149 shares of company stock worth $1,539,681. Insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WAL. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 183 shares during the period. Oak Thistle LLC acquired a new position in shares of Western Alliance Bancorporation in the first quarter valued at approximately $201,000. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation during the first quarter valued at $27,000. Principal Financial Group Inc. raised its position in Western Alliance Bancorporation by 32.7% during the 1st quarter. Principal Financial Group Inc. now owns 9,019 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 2,220 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Western Alliance Bancorporation by 1,649.6% during the first quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider’s stock worth $3,735,000 after acquiring an additional 54,865 shares during the last quarter. Institutional investors and hedge funds own 79.15% 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.