Analysts Anticipate Western Alliance Bancorporation (WAL) Will Announce Quarterly Sales of $260.79 Million

Wall Street brokerages expect Western Alliance Bancorporation (NYSE:WAL) to announce sales of $260.79 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Western Alliance Bancorporation’s earnings. The highest sales estimate is $264.83 million and the lowest is $255.00 million. Western Alliance Bancorporation posted sales of $225.86 million during the same quarter last year, which suggests a positive year over year growth rate of 15.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, April 22nd.

On average, analysts expect that Western Alliance Bancorporation will report full-year sales of $1.10 billion for the current financial year, with estimates ranging from $1.08 billion to $1.11 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.20 billion, with estimates ranging from $1.15 billion to $1.23 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The firm had revenue of $281.97 million during the quarter, compared to analysts’ expectations of $262.36 million. Western Alliance Bancorporation had a return on equity of 17.81% and a net margin of 40.48%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS.

Several equities analysts have weighed in on the company. Zacks Investment Research cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Friday, April 5th. TheStreet cut Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a report on Monday, December 24th. Finally, Citigroup raised Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $56.00 to $53.00 in a report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. Western Alliance Bancorporation has an average rating of “Buy” and a consensus price target of $61.67.

In other news, EVP Randall S. Theisen sold 6,358 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total transaction of $293,548.86. Following the completion of the transaction, the executive vice president now owns 39,869 shares of the company’s stock, valued at approximately $1,840,751.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Reoch Mcauslan sold 2,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $44.97, for a total value of $89,940.00. Following the transaction, the executive vice president now directly owns 15,611 shares of the company’s stock, valued at approximately $702,026.67. The disclosure for this sale can be found here. Insiders have sold a total of 14,478 shares of company stock valued at $667,285 in the last three months. 7.48% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. Paradigm Asset Management Co. LLC bought a new stake in Western Alliance Bancorporation during the 3rd quarter worth $54,000. Toronto Dominion Bank grew its position in Western Alliance Bancorporation by 94,800.0% during the 4th quarter. Toronto Dominion Bank now owns 1,898 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 1,896 shares during the last quarter. Cerebellum GP LLC grew its position in Western Alliance Bancorporation by 32.7% during the 4th quarter. Cerebellum GP LLC now owns 4,180 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 1,030 shares during the last quarter. First Interstate Bank grew its position in Western Alliance Bancorporation by 5.0% during the 4th quarter. First Interstate Bank now owns 5,925 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 280 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at about $258,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

NYSE WAL traded down $0.89 during midday trading on Friday, hitting $44.30. The company had a trading volume of 918,896 shares, compared to its average volume of 893,699. The stock has a market capitalization of $4.66 billion, a PE ratio of 10.70, a P/E/G ratio of 0.84 and a beta of 1.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. Western Alliance Bancorporation has a twelve month low of $37.39 and a twelve month high of $64.06.

Western Alliance Bancorporation Company Profile

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

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