$225.57 Million in Sales Expected for Western Alliance Bancorporation (WAL) This Quarter
Brokerages forecast that Western Alliance Bancorporation (NYSE:WAL) will announce $225.57 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Western Alliance Bancorporation’s earnings. The highest sales estimate is $234.70 million and the lowest is $217.26 million. Western Alliance Bancorporation reported sales of $185.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.4%. The business is scheduled to issue its next earnings report on Thursday, January 25th.
On average, analysts expect that Western Alliance Bancorporation will report full-year sales of $225.57 million for the current fiscal year, with estimates ranging from $821.27 million to $870.60 million. For the next financial year, analysts expect that the company will report sales of $970.33 million per share, with estimates ranging from $939.43 million to $1.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Western Alliance Bancorporation.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. Western Alliance Bancorporation’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share.
Western Alliance Bancorporation (NYSE:WAL) opened at $58.14 on Wednesday. The stock has a market capitalization of $6,220.00, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. Western Alliance Bancorporation has a 52-week low of $44.64 and a 52-week high of $60.25.
In related news, CEO Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $55.22, for a total transaction of $5,522,000.00. Following the completion of the sale, the chief executive officer now owns 54,000 shares in the company, valued at approximately $2,981,880. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William S. Boyd sold 10,000 shares of Western Alliance Bancorporation stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $55.55, for a total value of $555,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,000 shares of company stock valued at $9,611,590. Company insiders own 7.95% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WAL. BNP Paribas Arbitrage SA increased its position 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 in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $133,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $202,000. Finally, Dearborn Partners LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 81.82% 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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