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

Western Alliance Bancorporation (NYSE:WAL) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Western Alliance Bancorporation in a research note issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner anticipates that the financial services provider will earn $1.80 per share for the quarter. DA Davidson has a “Buy” rating and a $78.00 price target on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.73 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.

Several other research firms have also recently commented on WAL. 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. JPMorgan Chase & Co. lowered their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Citigroup upped their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a report on Monday, January 29th. Stephens restated an “overweight” rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a report on Friday, April 19th. Finally, Truist Financial lowered their target price on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.56.

Western Alliance Bancorporation Trading Down 1.3 %

NYSE WAL opened at $58.58 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. Western Alliance Bancorporation has a 52 week low of $11.35 and a 52 week high of $70.23. The stock has a market capitalization of $6.45 billion, a PE ratio of 8.54 and a beta of 1.47. The firm has a 50 day moving average of $59.33 and a two-hundred day moving average of $56.85.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $711.34 million. During the same quarter in the previous year, the business posted $2.30 EPS.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.48 annualized dividend and a yield of 2.53%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of large investors have recently bought and sold shares of WAL. AE Wealth Management LLC purchased a new position in Western Alliance Bancorporation during the 3rd quarter worth $1,173,000. Impact Partnership Wealth LLC purchased a new position in Western Alliance Bancorporation during the 3rd quarter worth $146,000. Handelsbanken Fonder AB raised its position in Western Alliance Bancorporation by 9.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock worth $798,000 after buying an additional 1,500 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Western Alliance Bancorporation during the 3rd quarter worth $9,941,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in Western Alliance Bancorporation by 5.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock worth $408,000 after buying an additional 487 shares during the last quarter. Hedge funds and other 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.