Analysts Offer Predictions for Western Alliance Bancorporation’s FY2017 Earnings (WAL)
Western Alliance Bancorporation (NYSE:WAL) – Stock analysts at FIG Partners lifted their FY2017 EPS estimates for Western Alliance Bancorporation in a report released on Thursday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings per share of $3.05 for the year, up from their previous estimate of $3.00. FIG Partners also issued estimates for Western Alliance Bancorporation’s Q4 2017 earnings at $0.80 EPS, Q1 2018 earnings at $0.85 EPS, Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $0.93 EPS, FY2018 earnings at $3.54 EPS, Q1 2019 earnings at $0.94 EPS, Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.03 EPS and FY2019 earnings at $4.04 EPS.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $211.50 million for the quarter, compared to the consensus estimate of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.71% and a net margin of 36.16%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. TRADEMARK VIOLATION WARNING: This piece of content was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/23/analysts-offer-predictions-for-western-alliance-bancorporations-fy2017-earnings-wal.html.
WAL has been the topic of several other research reports. BidaskClub cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, September 5th. SunTrust Banks, Inc. began coverage on shares of Western Alliance Bancorporation in a research report on Friday, August 18th. They set a “buy” rating and a $59.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and set a $57.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $58.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $60.00.
Western Alliance Bancorporation (NYSE WAL) opened at 55.90 on Monday. The firm’s 50-day moving average price is $50.72 and its 200-day moving average price is $48.84. The firm has a market cap of $5.82 billion, a P/E ratio of 20.19 and a beta of 1.75. Western Alliance Bancorporation has a 12 month low of $35.56 and a 12 month high of $56.10.
Several large investors have recently bought and sold shares of WAL. BNP Paribas Arbitrage SA raised its holdings in shares of Western Alliance Bancorporation by 72.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,060 shares during the period. Winfield Associates Inc. raised its holdings in shares of Western Alliance Bancorporation by 0.6% in the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 20 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Western Alliance Bancorporation by 15.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter worth approximately $202,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter worth approximately $207,000. 81.03% of the stock is currently owned by institutional investors.
In related news, Chairman Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total value of $4,837,000.00. Following the sale, the chairman now owns 54,000 shares of the company’s stock, valued at approximately $2,611,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.95% of the company’s stock.
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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