FY2024 Earnings Estimate for Western Alliance Bancorporation (NYSE:WAL) Issued By Wedbush

Western Alliance Bancorporation (NYSE:WAL) – Equities researchers at Wedbush lowered their FY2024 earnings per share (EPS) estimates for Western Alliance Bancorporation in a research report issued on Thursday, May 2nd. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $7.80 for the year, down from their prior forecast of $7.85. Wedbush currently has a “Outperform” rating and a $70.00 target price on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.57 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $2.36 EPS and Q3 2025 earnings at $2.47 EPS.

Several other equities analysts also recently weighed in on the company. Hovde Group initiated coverage on Western Alliance Bancorporation in a research report on Monday, April 22nd. They set an “outperform” rating and a $75.00 price target for the company. Keefe, Bruyette & Woods lowered their price target on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. decreased 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. Truist Financial cut their price target on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Royal Bank of Canada lowered their price objective on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

Western Alliance Bancorporation Trading Up 1.9 %

Shares of WAL opened at $62.43 on Monday. Western Alliance Bancorporation has a 1-year low of $25.21 and a 1-year high of $70.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $59.34 and a 200-day simple moving average of $57.68. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 9.10 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping 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 net margin of 16.50% and a return on equity of 14.77%. During the same quarter in the previous year, the business posted $2.30 earnings per share.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of large investors have recently modified their holdings of WAL. Allspring Global Investments Holdings LLC acquired a new position in Western Alliance Bancorporation in the 1st quarter worth $27,000. GAMMA Investing LLC increased its position 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 acquiring an additional 183 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 760 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Western Alliance Bancorporation in the fourth quarter valued at about $65,000. Finally, Fortitude Family Office LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at approximately $93,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 2.37%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

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.