Western Alliance Bancorporation (NYSE:WAL) issued its quarterly earnings data on Thursday. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03, Briefing.com reports. The business had revenue of $203.19 million during the quarter, compared to the consensus estimate of $203.71 million. Western Alliance Bancorporation had a net margin of 34.90% and a return on equity of 14.90%. During the same quarter in the prior year, the firm posted $0.62 earnings per share.

Western Alliance Bancorporation (WAL) traded down 0.06% during mid-day trading on Friday, hitting $49.13. 244,886 shares of the stock were exchanged. Western Alliance Bancorporation has a one year low of $33.28 and a one year high of $53.84. The company has a market cap of $5.11 billion, a P/E ratio of 18.90 and a beta of 1.74. The company has a 50-day moving average price of $48.59 and a 200-day moving average price of $48.88.

WAL has been the subject of a number of analyst reports. Keefe, Bruyette & Woods set a $58.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, April 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, May 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $57.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, April 3rd. Finally, BidaskClub downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Western Alliance Bancorporation presently has an average rating of “Hold” and a consensus price target of $56.00.

Several hedge funds have recently added to or reduced their stakes in WAL. Solaris Asset Management LLC boosted its stake in shares of Western Alliance Bancorporation by 1.3% in the first quarter. Solaris Asset Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 50 shares during the period. BB&T Corp boosted its stake in shares of Western Alliance Bancorporation by 0.7% in the second quarter. BB&T Corp now owns 20,870 shares of the financial services provider’s stock valued at $1,027,000 after buying an additional 155 shares during the period. First Interstate Bank boosted its stake in shares of Western Alliance Bancorporation by 2.9% in the first quarter. First Interstate Bank now owns 5,915 shares of the financial services provider’s stock valued at $290,000 after buying an additional 165 shares during the period. Tealwood Asset Management Inc. boosted its stake in shares of Western Alliance Bancorporation by 1.1% in the second quarter. Tealwood Asset Management Inc. now owns 37,305 shares of the financial services provider’s stock valued at $1,835,000 after buying an additional 420 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Western Alliance Bancorporation by 2.4% in the first quarter. IFP Advisors Inc now owns 21,639 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 504 shares during the period. Institutional investors own 84.24% of the company’s stock.

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Western Alliance Bancorporation Company Profile

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.

Earnings History for Western Alliance Bancorporation (NYSE:WAL)

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