FY2019 EPS Estimates for Western Alliance Bancorporation (WAL) Boosted by Analyst

Western Alliance Bancorporation (NYSE:WAL) – Stock analysts at SunTrust Banks lifted their FY2019 EPS estimates for Western Alliance Bancorporation in a research note issued to investors on Monday. SunTrust Banks analyst M. Young now forecasts that the financial services provider will earn $4.57 per share for the year, up from their previous forecast of $4.10. SunTrust Banks has a “Buy” rating and a $62.00 price target on the stock.

Several other equities analysts have also commented on WAL. Barclays upped their price objective on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Jefferies Group restated a “buy” rating and issued a $57.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. Zacks Investment Research restated a “buy” rating and issued a $64.00 price objective on shares of Western Alliance Bancorporation in a report on Saturday, January 6th. Wells Fargo & Co restated an “outperform” rating and issued a $62.00 price objective (up from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $64.50 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $62.94.

Shares of Western Alliance Bancorporation (NYSE WAL) traded up $0.07 during mid-day trading on Wednesday, hitting $59.22. 1,358,063 shares of the stock traded hands, compared to its average volume of 602,200. 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 52-week low of $44.64 and a 52-week high of $60.25. The firm has a market cap of $6,250.00, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.39 and a beta of 1.76.

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

Several institutional investors and hedge funds have recently made changes to their positions in WAL. Schwab Charles Investment Management Inc. raised its holdings in shares of Western Alliance Bancorporation by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 400,718 shares of the financial services provider’s stock valued at $19,716,000 after purchasing an additional 17,408 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Western Alliance Bancorporation by 16.7% in the 2nd quarter. Legal & General Group Plc now owns 36,517 shares of the financial services provider’s stock valued at $1,797,000 after purchasing an additional 5,227 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Western Alliance Bancorporation by 72.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Western Alliance Bancorporation by 15.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 469 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Western Alliance Bancorporation by 6.3% in the 2nd quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock valued at $8,182,000 after purchasing an additional 9,900 shares in the last quarter. Institutional investors and hedge funds own 81.59% of the company’s stock.

In other news, Director Marianne Boyd Johnson sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $54.42, for a total value of $217,680.00. Following the sale, the director now directly owns 3,295 shares in the company, valued at approximately $179,313.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $56.36, for a total transaction of $169,080.00. Following the completion of the sale, the executive vice president now owns 20,200 shares in the company, valued at $1,138,472. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,000 shares of company stock worth $9,780,670. 7.95% of the stock is owned by company insiders.

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Western Alliance Bancorporation Company Profile

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.

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

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