FIG Partners Comments on Western Alliance Bancorporation’s FY2017 Earnings (WAL)
Western Alliance Bancorporation (NYSE:WAL) – FIG Partners lifted their FY2017 earnings per share (EPS) estimates for shares of Western Alliance Bancorporation in a report issued on Monday. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings per share of $3.07 for the year, up from their previous estimate of $3.05. FIG Partners also issued estimates for Western Alliance Bancorporation’s Q4 2017 earnings at $0.82 EPS, Q1 2018 earnings at $0.88 EPS, Q2 2018 earnings at $0.89 EPS, Q3 2018 earnings at $0.92 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.64 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $1.00 EPS and FY2019 earnings at $4.08 EPS.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, September 5th. BidaskClub cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a report on Friday, September 8th. Barclays PLC reaffirmed an “overweight” rating and issued a $59.00 price target (up from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus price target of $61.29.
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Western Alliance Bancorporation (NYSE WAL) opened at 55.10 on Tuesday. Western Alliance Bancorporation has a 1-year low of $36.30 and a 1-year high of $56.51. The firm’s 50-day moving average is $50.91 and its 200 day moving average is $48.90. The firm has a market cap of $5.74 billion, a PE ratio of 19.90 and a beta of 1.75.
Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The business had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $212.27 million. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.71%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS.
In related news, Chairman Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total value of $4,837,000.00. Following the completion of the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at $2,611,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.95% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its holdings in Western Alliance Bancorporation by 72.1% during 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 last quarter. Winfield Associates Inc. raised its holdings in Western Alliance Bancorporation by 0.6% during 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Western Alliance Bancorporation by 15.5% during 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 last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $202,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $207,000. 81.37% of the stock is owned by institutional investors and hedge funds.
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.
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