Zacks: Brokerages Anticipate Western Alliance Bancorporation (WAL) Will Announce Quarterly Sales of $228.90 Million

Equities research analysts expect Western Alliance Bancorporation (NYSE:WAL) to report sales of $228.90 million for the current quarter, according to Zacks. Five analysts have provided estimates for Western Alliance Bancorporation’s earnings, with the highest sales estimate coming in at $234.90 million and the lowest estimate coming in at $222.40 million. Western Alliance Bancorporation posted sales of $189.85 million in the same quarter last year, which would indicate a positive year over year growth rate of 20.6%. The firm is scheduled to report its next earnings report on Thursday, April 19th.

According to Zacks, analysts expect that Western Alliance Bancorporation will report full year sales of $228.90 million for the current fiscal year, with estimates ranging from $931.90 million to $1.00 billion. For the next financial year, analysts forecast that the business will report sales of $1.09 billion per share, with estimates ranging from $1.04 billion to $1.13 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Western Alliance Bancorporation.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.82% and a net margin of 36.56%. The firm had revenue of $224.72 million for the quarter, compared to analyst estimates of $225.19 million. During the same quarter in the prior year, the company earned $0.70 EPS.

A number of research firms recently issued reports on WAL. Sandler O’Neill reaffirmed a “buy” rating and issued a $69.00 target price on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. SunTrust Banks reaffirmed a “buy” rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Barclays reaffirmed a “buy” rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 30th. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Finally, Stephens began coverage on Western Alliance Bancorporation in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $66.59.

Shares of Western Alliance Bancorporation (NYSE WAL) opened at $57.92 on Tuesday. Western Alliance Bancorporation has a 52 week low of $44.64 and a 52 week high of $60.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $6,130.00, a P/E ratio of 18.68, a P/E/G ratio of 1.11 and a beta of 1.63.

In other Western Alliance Bancorporation news, EVP Randall S. Theisen sold 2,942 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $59.00, for a total value of $173,578.00. Following the completion of the transaction, the executive vice president now directly owns 39,321 shares in the company, valued at approximately $2,319,939. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marianne Boyd Johnson sold 4,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $54.42, for a total value of $217,680.00. Following the completion of the transaction, the director now owns 3,295 shares of the company’s stock, valued at $179,313.90. The disclosure for this sale can be found here. Insiders sold a total of 9,942 shares of company stock valued at $560,338 over the last quarter. 7.95% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at $124,000. Cerebellum GP LLC acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at $124,000. Canada Pension Plan Investment Board acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $133,000. MAI Capital Management acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at $208,000. Finally, Timber Hill LLC acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at $208,000. Institutional investors own 81.85% 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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