Western Alliance Bancorporation (WAL) Expected to Announce Quarterly Sales of $229.00 Million

Equities research analysts expect Western Alliance Bancorporation (NYSE:WAL) to announce $229.00 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Western Alliance Bancorporation’s earnings, with the highest sales estimate coming in at $235.40 million and the lowest estimate coming in at $222.40 million. Western Alliance Bancorporation reported sales of $189.85 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.6%. The company is scheduled to announce its next earnings report after the market closes on Thursday, April 19th.

On average, analysts expect that Western Alliance Bancorporation will report full-year sales of $229.00 million for the current fiscal year, with estimates ranging from $931.90 million to $1.01 billion. For the next financial year, analysts expect that the company will post sales of $1.10 billion per share, with estimates ranging from $1.04 billion to $1.14 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Western Alliance Bancorporation.

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Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.50%. The firm had revenue of $224.72 million for the quarter, compared to analysts’ expectations of $225.19 million. During the same quarter last year, the firm earned $0.70 EPS.

Several equities research analysts have recently issued reports on WAL shares. ValuEngine lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Barclays raised their price target on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Zacks Investment Research restated a “buy” rating and set a $64.00 price target on shares of Western Alliance Bancorporation in a research note on Saturday, January 6th. Wells Fargo restated an “outperform” rating and set a $62.00 price target (up previously from $54.00) on shares of Western Alliance Bancorporation in a research note on Tuesday, January 9th. Finally, Stephens started coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, January 17th. They set an “overweight” rating and a $68.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Western Alliance Bancorporation has an average rating of “Buy” and an average target price of $66.88.

Shares of WAL stock traded up $0.04 during trading hours on Wednesday, hitting $56.02. 499,186 shares of the company were exchanged, compared to its average volume of 701,531. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. Western Alliance Bancorporation has a 52-week low of $44.64 and a 52-week high of $62.49. The firm has a market cap of $5,915.24, a P/E ratio of 18.06, a PEG ratio of 1.07 and a beta of 1.57.

In related news, EVP Robert Reoch Mcauslan sold 2,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $61.02, for a total value of $122,040.00. Following the completion of the transaction, the executive vice president now directly owns 18,449 shares in the company, valued at approximately $1,125,757.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP J. Kelly Jr. Ardrey sold 538 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $60.30, for a total transaction of $32,441.40. The disclosure for this sale can be found here. Insiders sold a total of 87,787 shares of company stock valued at $5,265,384 over the last quarter. 7.95% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in WAL. Carillon Tower Advisers Inc. purchased a new position in Western Alliance Bancorporation in the 4th quarter valued at approximately $29,732,000. Westwood Holdings Group Inc. grew its position in shares of Western Alliance Bancorporation by 22.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,816,826 shares of the financial services provider’s stock valued at $159,490,000 after purchasing an additional 516,722 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Western Alliance Bancorporation by 10.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,601,997 shares of the financial services provider’s stock valued at $203,946,000 after purchasing an additional 344,601 shares in the last quarter. BlackRock Inc. grew its position in shares of Western Alliance Bancorporation by 7.3% during the 4th quarter. BlackRock Inc. now owns 4,544,458 shares of the financial services provider’s stock valued at $257,305,000 after purchasing an additional 311,107 shares in the last quarter. Finally, Nicholas Investment Partners LP grew its position in shares of Western Alliance Bancorporation by 628.6% during the 4th quarter. Nicholas Investment Partners LP now owns 306,712 shares of the financial services provider’s stock valued at $17,366,000 after purchasing an additional 264,614 shares in the last quarter. Institutional investors and hedge funds own 83.34% of the company’s stock.

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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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Earnings History and Estimates for Western Alliance Bancorporation (NYSE:WAL)

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