Western Alliance Bancorporation (WAL) Scheduled to Post Quarterly Earnings on Thursday

Western Alliance Bancorporation (NYSE:WAL) is scheduled to issue its quarterly earnings data after the market closes on Thursday, October 17th. Analysts expect the company to announce earnings of $1.90 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The company had revenue of $771.80 million during the quarter, compared to analysts’ expectations of $737.97 million. During the same period last year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts expect Western Alliance Bancorporation to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Western Alliance Bancorporation Stock Up 2.3 %

NYSE:WAL opened at $90.88 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $92.73. The stock’s fifty day simple moving average is $81.58 and its 200-day simple moving average is $70.04. The firm has a market capitalization of $10.01 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.29 and a beta of 1.44.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is presently 21.57%.

Wall Street Analyst Weigh In

Several research firms have recently commented on WAL. Bank of America increased their price objective on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wedbush boosted their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Royal Bank of Canada upped their price objective on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their price target on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Finally, Jefferies Financial Group increased their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.53.

Insider Activity at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now owns 36,718 shares of the company’s stock, valued at $2,806,356.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the transaction, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,265 shares of company stock worth $1,700,391 in the last three months. 2.75% of the stock is owned by insiders.

About Western Alliance Bancorporation

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.