Western Alliance Bancorporation (NYSE:WAL) announced its quarterly earnings results on Thursday. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03, Bloomberg Earnings reports. Western Alliance Bancorporation had a return on equity of 15.82% and a net margin of 36.56%. The business had revenue of $224.72 million for the quarter, compared to the consensus estimate of $225.19 million. During the same period last year, the business posted $0.70 EPS.

Shares of Western Alliance Bancorporation (NYSE WAL) opened at $59.41 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $6,229.19, a price-to-earnings ratio of 19.16, a PEG ratio of 1.33 and a beta of 1.76. Western Alliance Bancorporation has a 52-week low of $44.64 and a 52-week high of $60.68.

In other news, EVP Robert Reoch Mcauslan sold 3,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $56.36, for a total value of $169,080.00. Following the completion of the sale, the executive vice president now owns 20,200 shares of the company’s stock, valued at approximately $1,138,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marianne Boyd Johnson sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total value of $217,680.00. Following the completion of the sale, the director now directly owns 3,295 shares of the company’s stock, valued at approximately $179,313.90. The disclosure for this sale can be found here. 7.95% of the stock is owned by company insiders.

A number of brokerages have recently issued reports on WAL. Royal Bank of Canada reiterated a “buy” rating and issued a $68.00 price target on shares of Western Alliance Bancorporation in a report on Friday. DA Davidson reiterated a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday. Stephens began coverage on Western Alliance Bancorporation in a report on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 price target on the stock. Zacks Investment Research reiterated a “buy” rating and issued a $64.00 price target on shares of Western Alliance Bancorporation in a report on Saturday, January 6th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $62.00 price target (up from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $64.45.

ILLEGAL ACTIVITY WARNING: “Western Alliance Bancorporation (WAL) Posts Earnings Results, Beats Estimates By $0.03 EPS” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://theolympiareport.com/2018/01/27/western-alliance-bancorporation-wal-posts-earnings-results-beats-estimates-by-0-03-eps.html.

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.

Earnings History for Western Alliance Bancorporation (NYSE:WAL)

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.