Analysts expect Western Alliance Bancorporation (NYSE:WAL) to report $284.06 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Western Alliance Bancorporation’s earnings, with the lowest sales estimate coming in at $280.60 million and the highest estimate coming in at $286.58 million. Western Alliance Bancorporation posted sales of $257.12 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The business is scheduled to announce its next earnings report on Thursday, January 23rd.
On average, analysts expect that Western Alliance Bancorporation will report full-year sales of $1.10 billion for the current year, with estimates ranging from $1.09 billion to $1.11 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Western Alliance Bancorporation.
Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. Western Alliance Bancorporation had a net margin of 39.08% and a return on equity of 17.65%. The business had revenue of $288.90 million for the quarter, compared to analyst estimates of $281.83 million. During the same period in the previous year, the business earned $1.05 EPS. The firm’s revenue was up 14.2% on a year-over-year basis.
In related news, Director Todd Marshall sold 10,000 shares of Western Alliance Bancorporation stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $52.00, for a total transaction of $520,000.00. Following the sale, the director now directly owns 27,096 shares in the company, valued at $1,408,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $2,523,400. 7.72% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in WAL. Bessemer Group Inc. raised its holdings in shares of Western Alliance Bancorporation by 1,048.3% in the 2nd quarter. Bessemer Group Inc. now owns 666 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 608 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in Western Alliance Bancorporation in the second quarter worth $31,000. Liberty Wealth Management LLC bought a new stake in shares of Western Alliance Bancorporation in the third quarter valued at $36,000. Pearl River Capital LLC bought a new stake in shares of Western Alliance Bancorporation in the second quarter valued at $37,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Western Alliance Bancorporation during the 2nd quarter valued at $44,000. 81.03% of the stock is owned by hedge funds and other institutional investors.
Shares of WAL traded down $0.49 during mid-day trading on Thursday, reaching $51.76. The company’s stock had a trading volume of 480,842 shares, compared to its average volume of 797,731. Western Alliance Bancorporation has a 52 week low of $37.39 and a 52 week high of $53.60. The stock has a market cap of $5.35 billion, a PE ratio of 12.50, a P/E/G ratio of 0.73 and a beta of 1.67. The company’s fifty day moving average price is $50.42 and its two-hundred day moving average price is $46.05. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. Western Alliance Bancorporation’s payout ratio is presently 24.15%.
About Western Alliance Bancorporation
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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