Western Alliance Bancorporation (NYSE:WAL) - Investment analysts at Jefferies Financial Group lowered their Q3 2021 earnings per share (EPS) estimates for Western Alliance Bancorporation in a note issued to investors on Wednesday, July 21st. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will post earnings of $2.16 per share for the quarter, down from their previous estimate of $2.17.
Several other analysts also recently issued reports on the stock. upped their price objective on shares of Western Alliance Bancorporation from $72.00 to $99.00 and gave the stock a "neutral" rating in a report on Wednesday, April 14th. Truist Financial upped their price objective on shares of Western Alliance Bancorporation from $85.00 to $117.00 in a report on Tuesday, April 20th. Royal Bank of Canada upped their price objective on shares of Western Alliance Bancorporation from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Monday, July 19th. Truist Securities upped their price objective on shares of Western Alliance Bancorporation from $85.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, April 20th. Finally, Wells Fargo & Company raised shares of Western Alliance Bancorporation from an "equal weight" rating to an "overweight" rating and set a $120.00 price objective for the company in a report on Monday, April 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of "Buy" and a consensus target price of $95.15.
Shares of WAL opened at $95.55 on Monday. The business's fifty day simple moving average is $96.80. Western Alliance Bancorporation has a 12 month low of $30.34 and a 12 month high of $109.84. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 12.98 and a beta of 1.68. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15. Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $2.17 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $2.02 by $0.15. Western Alliance Bancorporation had a net margin of 47.52% and a return on equity of 21.97%. During the same period last year, the firm posted $0.93 EPS.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Western Alliance Bancorporation by 775.9% during the 1st quarter. Bank of Montreal Can now owns 371,611 shares of the financial services provider's stock worth $34,200,000 after purchasing an additional 329,183 shares in the last quarter. Sit Investment Associates Inc. acquired a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth about $2,290,000. Parsons Capital Management Inc. RI increased its position in shares of Western Alliance Bancorporation by 3.8% during the 1st quarter. Parsons Capital Management Inc. RI now owns 29,594 shares of the financial services provider's stock worth $2,795,000 after purchasing an additional 1,071 shares in the last quarter. Tygh Capital Management Inc. increased its position in shares of Western Alliance Bancorporation by 45.4% during the 1st quarter. Tygh Capital Management Inc. now owns 237,858 shares of the financial services provider's stock worth $22,463,000 after purchasing an additional 74,318 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth about $321,000. Institutional investors and hedge funds own 87.22% of the company's stock.
In other news, Director Steven J. Hilton sold 10,000 shares of the firm's stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $108.19, for a total transaction of $1,081,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bryan K. Segedi bought 1,000 shares of the company's stock in a transaction that occurred on Friday, June 4th. The shares were purchased at an average price of $100.65 per share, with a total value of $100,650.00. Following the transaction, the director now directly owns 8,327 shares in the company, valued at $838,112.55. The disclosure for this purchase can be found here. 2.81% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Friday, May 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Thursday, May 13th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.84%.
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 in two segments, Commercial and Consumer Related. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services.
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