Western Alliance Bancorporation (NYSE:WAL) – Research analysts at Piper Sandler lifted their FY2020 earnings per share estimates for Western Alliance Bancorporation in a report issued on Sunday, January 26th. Piper Sandler analyst B. Milsaps now expects that the financial services provider will earn $5.10 per share for the year, up from their prior forecast of $5.00. Piper Sandler also issued estimates for Western Alliance Bancorporation’s FY2021 earnings at $5.55 EPS.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.05. Western Alliance Bancorporation had a return on equity of 17.63% and a net margin of 38.69%. The firm had revenue of $287.50 million during the quarter, compared to analyst estimates of $289.11 million. During the same period last year, the company earned $1.13 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.
A number of other equities analysts have also commented on the company. Piper Jaffray Companies set a $62.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, October 21st. SunTrust Banks dropped their price target on Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Citigroup set a $58.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, October 21st. Stephens set a $55.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Zacks Investment Research reaffirmed a “buy” rating and set a $64.00 price target on shares of Western Alliance Bancorporation in a research note on Saturday, January 11th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Western Alliance Bancorporation has a consensus rating of “Buy” and an average target price of $58.83.
Western Alliance Bancorporation stock opened at $56.48 on Tuesday. Western Alliance Bancorporation has a one year low of $38.55 and a one year high of $58.94. The business has a fifty day moving average price of $56.95 and a 200-day moving average price of $49.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $5.90 billion, a P/E ratio of 11.67, a PEG ratio of 0.77 and a beta of 1.69.
In related news, Director Todd Marshall sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $50.18, for a total transaction of $1,003,600.00. Following the transaction, the director now owns 27,096 shares in the company, valued at approximately $1,359,677.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 75,000 shares of company stock worth $3,901,650. Company insiders own 7.72% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Hotaling Investment Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $1,650,000. California Public Employees Retirement System boosted its position in shares of Western Alliance Bancorporation by 14.8% in the 4th quarter. California Public Employees Retirement System now owns 251,471 shares of the financial services provider’s stock worth $14,334,000 after purchasing an additional 32,414 shares in the last quarter. Dupont Capital Management Corp boosted its position in shares of Western Alliance Bancorporation by 63.9% in the 4th quarter. Dupont Capital Management Corp now owns 63,323 shares of the financial services provider’s stock worth $3,609,000 after purchasing an additional 24,686 shares in the last quarter. CWM LLC boosted its position in shares of Western Alliance Bancorporation by 15.3% in the 4th quarter. CWM LLC now owns 4,329 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 575 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $4,109,000. Hedge funds and other institutional investors own 80.45% of the company’s stock.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.