Research Analysts Issue Forecasts for Western Alliance Bancorporation’s Q2 2024 Earnings (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – DA Davidson issued their Q2 2024 earnings estimates for shares of Western Alliance Bancorporation in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner forecasts 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.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Citigroup raised their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods reduced their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. Stephens reaffirmed an “overweight” rating and set a $82.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.56.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $59.81 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23. The firm has a market capitalization of $6.59 billion, a P/E ratio of 8.72 and a beta of 1.47. The company’s 50-day moving average is $59.43 and its 200 day moving average is $56.82.

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

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after buying an additional 183 shares during the period. Riverwater Partners LLC lifted its stake in shares of Western Alliance Bancorporation by 0.7% during the fourth quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock worth $1,920,000 after buying an additional 211 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Western Alliance Bancorporation by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider’s stock worth $2,182,000 after buying an additional 240 shares during the period. Madison Asset Management LLC lifted its stake in shares of Western Alliance Bancorporation by 0.4% during the fourth quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock worth $4,959,000 after buying an additional 297 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its stake in shares of Western Alliance Bancorporation by 2.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 11,373 shares of the financial services provider’s stock worth $749,000 after buying an additional 303 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 annualized dividend and a yield of 2.47%. 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.