Western Alliance Bancorporation (NYSE:WAL) – Research analysts at Jefferies Group cut their Q4 2017 earnings per share estimates for shares of Western Alliance Bancorporation in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings of $0.84 per share for the quarter, down from their previous forecast of $0.85. Jefferies Group has a “Buy” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for Western Alliance Bancorporation’s FY2018 earnings at $4.20 EPS and FY2019 earnings at $4.65 EPS.
WAL has been the subject of several other reports. SunTrust Banks upped their price objective on Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. ValuEngine cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Barclays set a $62.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Saturday, September 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $64.50 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $62.94.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The firm had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $212.27 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis.
In related news, Director Sung Won Sohn sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $55.89, for a total transaction of $279,450.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $56.49, for a total value of $225,960.00. Following the sale, the executive vice president now owns 23,200 shares in the company, valued at approximately $1,310,568. The disclosure for this sale can be found here. Insiders have sold 176,000 shares of company stock valued at $9,780,670 over the last ninety days. 7.95% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WAL. BNP Paribas Arbitrage SA raised its holdings in Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,060 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Western Alliance Bancorporation during the third quarter worth about $133,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 469 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Western Alliance Bancorporation during the second quarter worth about $202,000. Finally, Dearborn Partners LLC bought a new stake in Western Alliance Bancorporation during the third quarter worth about $205,000. Institutional investors and hedge funds own 81.59% 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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