Equities research analysts expect Western Alliance Bancorporation (NYSE:WAL) to announce $2.23 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Western Alliance Bancorporation’s earnings. The highest EPS estimate is $2.31 and the lowest is $2.16. Western Alliance Bancorporation posted earnings of $1.36 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 64%. The company is expected to announce its next quarterly earnings results on Thursday, October 28th.
According to Zacks, analysts expect that Western Alliance Bancorporation will report full year earnings of $8.50 per share for the current fiscal year, with EPS estimates ranging from $8.40 to $8.61. For the next financial year, analysts expect that the company will post earnings of $9.32 per share, with EPS estimates ranging from $9.19 to $9.55. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Western Alliance Bancorporation.
Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $2.17 EPS for the quarter, topping the consensus estimate of $2.02 by $0.15. The company had revenue of $506.50 million for the quarter, compared to analyst estimates of $494.56 million. Western Alliance Bancorporation had a return on equity of 21.08% and a net margin of 47.52%. During the same quarter in the previous year, the company posted $0.93 earnings per share.
Shares of WAL stock traded up $4.87 during midday trading on Thursday, hitting $101.95. The company had a trading volume of 482,478 shares, compared to its average volume of 729,556. The company’s 50 day simple moving average is $96.75 and its 200 day simple moving average is $97.62. Western Alliance Bancorporation has a 52-week low of $30.34 and a 52-week high of $109.84. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 13.85 and a beta of 1.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.90 and a quick ratio of 0.79.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were paid a $0.35 dividend. The ex-dividend date was Thursday, August 12th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.37%. Western Alliance Bancorporation’s payout ratio is 27.78%.
In other news, Director Steven J. Hilton bought 40,000 shares of the firm’s stock in a transaction on Wednesday, September 15th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now owns 3,074 shares in the company, valued at $76,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Gary Sarver bought 200,000 shares of the firm’s stock in a transaction on Wednesday, September 15th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $5,000,000.00. Following the completion of the transaction, the chairman now owns 48,044 shares of the company’s stock, valued at approximately $1,201,100. The disclosure for this purchase can be found here. 2.81% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its holdings in shares of Western Alliance Bancorporation by 4.5% in the second quarter. Virtu Financial LLC now owns 3,085 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 132 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Western Alliance Bancorporation by 6.0% in the second quarter. Parametric Portfolio Associates LLC now owns 154,243 shares of the financial services provider’s stock worth $14,321,000 after acquiring an additional 8,763 shares during the last quarter. Morgan Stanley raised its holdings in shares of Western Alliance Bancorporation by 132.1% in the second quarter. Morgan Stanley now owns 212,833 shares of the financial services provider’s stock worth $19,762,000 after acquiring an additional 121,143 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Western Alliance Bancorporation by 1.1% in the second quarter. Thrivent Financial for Lutherans now owns 3,209,733 shares of the financial services provider’s stock worth $298,024,000 after acquiring an additional 34,041 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Western Alliance Bancorporation in the second quarter worth $14,950,000. 85.80% of the stock is owned by institutional investors.
About Western Alliance Bancorporation
Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial; Consumer Related, and Corporate and Other. The Commercial segment focuses in delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.
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