Western Alliance Bancorporation (NYSE:WAL) Forecasted to Post Q2 2024 Earnings of $1.80 Per Share

Western Alliance Bancorporation (NYSE:WAL) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Western Alliance Bancorporation in a research note issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $1.80 per share for the quarter. DA Davidson currently has a “Buy” rating and a $78.00 target price on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.83 per share. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2024 earnings at $7.50 EPS and FY2025 earnings at $8.60 EPS.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. During the same quarter in the previous year, the business earned $2.30 earnings per share.

Several other research analysts also recently issued reports on the stock. Hovde Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Monday. They set an “outperform” rating and a $75.00 price objective on the stock. Barclays lowered their price target on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Jefferies Financial Group decreased their price objective on Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Finally, Truist Financial lowered their target price on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.56.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $59.38 on Wednesday. The firm’s fifty day simple moving average is $59.41 and its 200-day simple moving average is $56.84. Western Alliance Bancorporation has a 12 month low of $11.35 and a 12 month high of $70.23. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 8.66 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $27,000. GAMMA Investing LLC lifted its stake in shares of Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Western Alliance Bancorporation by 422.2% during the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 760 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $65,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $93,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.37 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.49%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Western Alliance Bancorporation Company Profile

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.