Wall Street analysts expect Western Alliance Bancorporation (NYSE:WAL) to post $277.65 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Western Alliance Bancorporation’s earnings. The highest sales estimate is $282.10 million and the lowest is $274.00 million. Western Alliance Bancorporation posted sales of $238.46 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The business is expected to report its next quarterly earnings results on Thursday, October 17th.
According to Zacks, analysts expect that Western Alliance Bancorporation will report full year sales of $1.09 billion for the current financial year, with estimates ranging from $1.08 billion to $1.12 billion. For the next year, analysts anticipate that the company will post sales of $1.19 billion, with estimates ranging from $1.16 billion to $1.22 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Western Alliance Bancorporation.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.03. The firm had revenue of $267.30 million for the quarter, compared to the consensus estimate of $274.37 million. Western Alliance Bancorporation had a net margin of 39.87% and a return on equity of 18.18%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS.
Shares of NYSE WAL traded up $0.39 during midday trading on Monday, reaching $46.39. The stock had a trading volume of 926,700 shares, compared to its average volume of 823,314. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.86 and a beta of 1.60. Western Alliance Bancorporation has a twelve month low of $37.39 and a twelve month high of $60.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50 day simple moving average of $44.15.
In related news, Director William S. Boyd acquired 2,500 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $45.25 per share, for a total transaction of $113,125.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $226,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Gary Sarver sold 66,351 shares of Western Alliance Bancorporation stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $46.71, for a total transaction of $3,099,255.21. Following the completion of the sale, the insider now owns 59,504 shares of the company’s stock, valued at approximately $2,779,431.84. The disclosure for this sale can be found here. Insiders own 7.72% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WAL. Davis Capital Partners LLC increased its stake in shares of Western Alliance Bancorporation by 200.0% in the 1st quarter. Davis Capital Partners LLC now owns 1,500,000 shares of the financial services provider’s stock valued at $61,560,000 after acquiring an additional 1,000,000 shares in the last quarter. Norges Bank bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at $33,692,000. Two Sigma Investments LP increased its stake in shares of Western Alliance Bancorporation by 95.1% in the 4th quarter. Two Sigma Investments LP now owns 950,458 shares of the financial services provider’s stock valued at $37,534,000 after acquiring an additional 463,273 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Western Alliance Bancorporation by 73.2% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 921,950 shares of the financial services provider’s stock valued at $37,837,000 after acquiring an additional 389,640 shares in the last quarter. Finally, Basswood Capital Management L.L.C. increased its stake in Western Alliance Bancorporation by 470.3% during the 4th quarter. Basswood Capital Management L.L.C. now owns 429,391 shares of the financial services provider’s stock valued at $16,957,000 after purchasing an additional 354,094 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.
About Western Alliance Bancorporation
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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