Western Alliance Bancorporation (NYSE:WAL) – Analysts at Jefferies Group increased their Q4 2017 earnings estimates for Western Alliance Bancorporation in a report issued on Tuesday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings of $0.83 per share for the quarter, up from their previous forecast of $0.81. Jefferies Group has a “Buy” rating and a $57.00 price target on the stock. Jefferies Group also issued estimates for Western Alliance Bancorporation’s Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.92 EPS and Q4 2018 earnings at $0.94 EPS.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. The firm had revenue of $203.19 million during the quarter, compared to analysts’ expectations of $203.71 million. During the same period last year, the company posted $0.62 EPS.

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A number of other research analysts have also recently commented on WAL. BidaskClub cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. SunTrust Banks, Inc. assumed coverage on shares of Western Alliance Bancorporation in a report on Friday, August 18th. They issued a “buy” rating and a $59.00 price target on the stock. 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. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus price target of $57.83.

Shares of Western Alliance Bancorporation (WAL) opened at 53.89 on Wednesday. Western Alliance Bancorporation has a 52-week low of $35.56 and a 52-week high of $54.29. The stock has a market capitalization of $5.61 billion, a PE ratio of 19.46 and a beta of 1.75. The stock has a 50 day moving average of $49.53 and a 200 day moving average of $48.58.

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its position in shares of Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,060 shares during the last quarter. Winfield Associates Inc. lifted its position in shares of Western Alliance Bancorporation by 0.6% during the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after buying an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock valued at $172,000 after buying an additional 469 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $202,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $207,000. Institutional investors own 81.23% of the company’s stock.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 100,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the transaction, the chairman now directly owns 54,000 shares in the company, valued at approximately $2,611,980. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.95% of the stock is owned by corporate insiders.

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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