DA Davidson Has Negative Outlook of WAL FY2024 Earnings

Western Alliance Bancorporation (NYSE:WAL) – DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Western Alliance Bancorporation in a research note issued on Tuesday, October 22nd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $7.19 per share for the year, down from their previous estimate of $7.38. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.22 per share. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2025 earnings at $8.85 EPS.

Other equities analysts have also issued reports about the company. Jefferies Financial Group boosted 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. Barclays decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. Stephens restated an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. One research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.60.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $82.14 on Thursday. The stock has a market capitalization of $9.04 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.28 and a beta of 1.44. Western Alliance Bancorporation has a 1-year low of $39.03 and a 1-year high of $94.28. 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 business has a 50-day moving average price of $83.18 and a two-hundred day moving average price of $71.12.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is 22.84%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 $2,806,356.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,149 shares of company stock worth $1,539,681. Corporate insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $1,577,000. State of Alaska Department of Revenue bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $1,096,000. DekaBank Deutsche Girozentrale raised its stake in shares of Western Alliance Bancorporation by 19.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,416 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 565 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $253,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $2,612,000. Institutional investors own 79.15% of the company’s stock.

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.