Western Alliance Bancorporation (NYSE:WAL) Expected to Post Q1 2024 Earnings of $1.53 Per Share

Western Alliance Bancorporation (NYSE:WAL) – Wedbush dropped their Q1 2024 earnings estimates for Western Alliance Bancorporation in a research note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $1.53 per share for the quarter, down from their prior estimate of $1.61. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.90 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s Q2 2024 earnings at $1.81 EPS, Q4 2024 earnings at $2.33 EPS, Q1 2025 earnings at $2.23 EPS, Q2 2025 earnings at $2.36 EPS, Q3 2025 earnings at $2.46 EPS, Q4 2025 earnings at $2.49 EPS and FY2025 earnings at $9.55 EPS.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.02). Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $705.97 million. During the same quarter last year, the business earned $2.67 EPS.

A number of other brokerages have also recently commented on WAL. Royal Bank of Canada boosted their price objective on Western Alliance Bancorporation from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. DA Davidson reissued a “buy” rating and set a $85.00 price target on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $72.00 price objective (up from $62.00) on shares of Western Alliance Bancorporation in a research report on Tuesday, January 30th. Truist Financial raised their price objective on Western Alliance Bancorporation from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Finally, Citigroup lifted their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $63.59.

Western Alliance Bancorporation Trading Down 0.0 %

Shares of WAL opened at $64.19 on Thursday. Western Alliance Bancorporation has a twelve month low of $11.35 and a twelve month high of $70.23. The stock’s fifty day simple moving average is $60.91 and its 200 day simple moving average is $55.05. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $7.07 billion, a P/E ratio of 9.81 and a beta of 1.46.

Institutional Trading of Western Alliance Bancorporation

Several large investors have recently modified their holdings of WAL. Vanguard Group Inc. lifted its position in Western Alliance Bancorporation by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider’s stock valued at $460,724,000 after acquiring an additional 74,824 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Western Alliance Bancorporation by 7.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,058,243 shares of the financial services provider’s stock valued at $360,829,000 after buying an additional 402,614 shares during the last quarter. BlackRock Inc. lifted its position in shares of Western Alliance Bancorporation by 12.5% during the 2nd quarter. BlackRock Inc. now owns 5,410,343 shares of the financial services provider’s stock worth $197,315,000 after buying an additional 601,129 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Western Alliance Bancorporation by 21.5% in the first quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider’s stock valued at $411,724,000 after acquiring an additional 880,430 shares in the last quarter. Finally, State Street Corp lifted its holdings in Western Alliance Bancorporation by 44.4% during the first quarter. State Street Corp now owns 4,056,477 shares of the financial services provider’s stock worth $144,167,000 after acquiring an additional 1,246,855 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 22.63%.

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.