Western Alliance Bancorporation (NYSE:WAL) – Investment analysts at FIG Partners increased their FY2017 earnings per share estimates for Western Alliance Bancorporation in a report issued on Friday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will earn $3.00 per share for the year, up from their previous estimate of $2.94. FIG Partners also issued estimates for Western Alliance Bancorporation’s Q1 2018 earnings at $0.83 EPS and FY2018 earnings at $3.46 EPS.

WAL has been the topic of several other reports. BidaskClub cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a research report on Monday, April 10th. Jefferies Group LLC decreased their target price on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, May 22nd. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, April 4th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a research report on Monday, April 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Western Alliance Bancorporation presently has an average rating of “Hold” and a consensus target price of $56.00.

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Western Alliance Bancorporation (WAL) opened at 49.51 on Monday. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 17.88 and a beta of 1.74. The stock has a 50 day moving average of $48.59 and a 200 day moving average of $48.88. Western Alliance Bancorporation has a one year low of $33.28 and a one year high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.54%. The company had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same period in the previous year, the business posted $0.62 EPS.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Solaris Asset Management LLC boosted its position 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 worth $196,000 after buying an additional 50 shares during the period. BB&T Corp boosted its position 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 worth $1,027,000 after buying an additional 155 shares during the period. First Interstate Bank boosted its position 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 worth $290,000 after buying an additional 165 shares during the period. Tealwood Asset Management Inc. raised its stake in 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 worth $1,835,000 after buying an additional 420 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in 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 worth $1,062,000 after buying an additional 504 shares in the last quarter. 84.24% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Western Alliance Bancorporation (NYSE:WAL)

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