Western Alliance Bancorporation (WAL) Scheduled to Post Quarterly Earnings on Thursday

Western Alliance Bancorporation (NYSE:WAL) is set to announce its earnings results after the market closes on Thursday, October 17th. Analysts expect the company to announce earnings of $1.90 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The business had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 earnings per share. On average, analysts expect Western Alliance Bancorporation to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $88.80 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $81.23 and a 200-day simple moving average of $69.85. The company has a market cap of $9.78 billion, a PE ratio of 13.35, a P/E/G ratio of 1.29 and a beta of 1.44. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $89.48.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.67%. Western Alliance Bancorporation’s dividend payout ratio is presently 22.26%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at $650,843.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,265 shares of company stock valued at $1,700,391. Corporate insiders own 2.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Bank of America upped their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group upped their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $89.53.

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.