DA Davidson Weighs in on Western Alliance Bancorporation’s Q3 2024 Earnings (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) – Equities research analysts at DA Davidson lifted their Q3 2024 EPS estimates for shares of Western Alliance Bancorporation in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will earn $1.89 per share for the quarter, up from their previous estimate of $1.84. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.40 per share. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2025 earnings at $9.03 EPS.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price objective on Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Truist Financial boosted their target price on Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Wedbush raised their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus price target of $87.87.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $82.74 on Friday. The business’s fifty day moving average is $80.10 and its two-hundred day moving average is $68.56. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The firm has a market cap of $9.11 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.62 and a beta of 1.44. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $88.92.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The business had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same period in the previous year, the business earned $1.96 EPS. Western Alliance Bancorporation’s revenue was up 15.3% compared to the same quarter last year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.79%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now directly owns 36,718 shares in the company, valued at approximately $2,806,356.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares in the company, valued at approximately $2,806,356.74. The disclosure for this sale can be found here. Insiders have sold a total of 21,265 shares of company stock valued at $1,700,391 over the last 90 days. 2.75% of the stock is owned by company insiders.

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at $27,000. GAMMA Investing LLC increased its position in shares of Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares during the last quarter. ORG Partners LLC bought a new stake in Western Alliance Bancorporation during the second quarter worth about $36,000. Chilton Capital Management LLC bought a new position in Western Alliance Bancorporation in the second quarter valued at approximately $54,000. Finally, Versant Capital Management Inc increased its position in shares of Western Alliance Bancorporation by 26.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.