Western Alliance Bancorp. (WAL) Announces Quarterly Earnings, Meets Expectations
Western Alliance Bancorp. (NYSE:WAL) announced its earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32, ARN reports. During the same quarter in the previous year, the company posted $0.20 earnings per share.
Shares of Western Alliance Bancorp. (NYSE:WAL) traded up 1.40% during mid-day trading on Thursday, hitting $20.99. 358,850 shares of the company’s stock traded hands. Western Alliance Bancorp. has a one year low of $9.28 and a one year high of $21.10. The stock has a 50-day moving average of $18.24 and a 200-day moving average of $16.28. The company has a market cap of $1.799 billion and a P/E ratio of 17.51.
A number of analysts have recently weighed in on WAL shares. Analysts at Ned Davis Research initiated coverage on shares of Western Alliance Bancorp. in a research note to investors on Monday, October 7th. They set a “neutral” rating on the stock. On a related note, analysts at Credit Suisse initiated coverage on shares of Western Alliance Bancorp. in a research note to investors on Friday, September 27th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Western Alliance Bancorp. from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, September 20th. They now have a $19.80 price target on the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.54.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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