Western Alliance Bancorporation (NYSE:WAL) to Release Quarterly Earnings on Thursday
Western Alliance Bancorporation (NYSE:WAL) is scheduled to release its earnings data after the market closes on Thursday, July 20th. Analysts expect Western Alliance Bancorporation to post earnings of $0.73 per share for the quarter.
Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, April 20th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $189.22 million during the quarter, compared to analysts’ expectations of $196.03 million. Western Alliance Bancorporation had a net margin of 38.64% and a return on equity of 15.24%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. On average, analysts expect Western Alliance Bancorporation to post $2.97 EPS for the current fiscal year and $3.47 EPS for the next fiscal year.
Shares of Western Alliance Bancorporation (NYSE:WAL) traded down 0.52% during trading on Thursday, hitting $49.44. 317,780 shares of the stock traded hands. Western Alliance Bancorporation has a 1-year low of $32.40 and a 1-year high of $53.84. The stock has a 50-day moving average of $47.28 and a 200 day moving average of $48.82. The company has a market cap of $5.14 billion, a P/E ratio of 19.02 and a beta of 1.74.
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A number of brokerages have recently issued reports on WAL. BidaskClub raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods set a $58.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, June 26th. Royal Bank Of Canada reissued a “buy” rating and issued a $57.00 price target on shares of Western Alliance Bancorporation in a report on Monday, April 3rd. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Thursday, March 16th. Finally, Jefferies Group LLC lowered their price target on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.00.
About Western Alliance Bancorporation
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.
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