FY2024 EPS Estimates for Western Alliance Bancorporation (NYSE:WAL) Lowered by Analyst

Western Alliance Bancorporation (NYSE:WAL) – Stock analysts at Wedbush dropped their FY2024 earnings per share estimates for Western Alliance Bancorporation in a research note issued on Thursday, May 2nd. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $7.80 for the year, down from their previous estimate of $7.85. Wedbush currently has a “Outperform” rating and a $70.00 target price on the stock. The consensus estimate for Western Alliance Bancorporation’s current full-year earnings is $7.57 per share. Wedbush also issued estimates for Western Alliance Bancorporation’s Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $2.36 EPS and Q3 2025 earnings at $2.47 EPS.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada cut their target price on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Barclays cut their target price on shares of Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, Hovde Group initiated coverage on shares of Western Alliance Bancorporation in a report on Monday, April 22nd. They issued an “outperform” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Western Alliance Bancorporation Stock Down 0.4 %

Shares of WAL opened at $62.16 on Monday. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 9.06 and a beta of 1.47. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. Western Alliance Bancorporation has a 12 month low of $25.21 and a 12 month high of $70.23. The company has a 50-day moving average price of $59.41 and a two-hundred day moving average price of $57.82.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $711.34 million. During the same period last year, the business earned $2.30 earnings per share.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.38%. Western Alliance Bancorporation’s dividend payout ratio is 21.57%.

Institutional Trading of Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WAL. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the first quarter valued at approximately $27,000. GAMMA Investing LLC boosted its position in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after buying an additional 183 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after buying an additional 760 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at approximately $65,000. Finally, Fortitude Family Office LLC acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at approximately $93,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.