Western Alliance Bancorporation (NYSE:WAL) – Equities researchers at Jefferies Financial Group cut their Q4 2018 earnings per share (EPS) estimates for shares of Western Alliance Bancorporation in a report issued on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will post earnings of $1.10 per share for the quarter, down from their previous forecast of $1.11. Jefferies Financial Group also issued estimates for Western Alliance Bancorporation’s Q1 2019 earnings at $1.05 EPS, Q2 2019 earnings at $1.10 EPS, Q3 2019 earnings at $1.17 EPS, Q4 2019 earnings at $1.18 EPS, FY2019 earnings at $4.50 EPS and FY2020 earnings at $4.75 EPS.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The business had revenue of $238.46 million for the quarter, compared to analysts’ expectations of $247.04 million. Western Alliance Bancorporation had a return on equity of 17.27% and a net margin of 39.69%. During the same period in the previous year, the firm posted $0.79 EPS.

WAL has been the topic of several other reports. ValuEngine cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Zacks Investment Research raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 13th. TheStreet cut Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Stephens reaffirmed a “buy” rating and set a $60.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, December 12th. Finally, SunTrust Banks cut their price objective on Western Alliance Bancorporation to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Western Alliance Bancorporation currently has a consensus rating of “Buy” and a consensus target price of $64.00.

Western Alliance Bancorporation stock opened at $42.45 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.81 and a beta of 1.53. Western Alliance Bancorporation has a fifty-two week low of $37.39 and a fifty-two week high of $64.06.

In related news, Director Michael Patriarca purchased 2,140 shares of the company’s stock in a transaction dated Wednesday, October 24th. The shares were purchased at an average cost of $46.78 per share, with a total value of $100,109.20. Following the transaction, the director now directly owns 8,875 shares in the company, valued at approximately $415,172.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.48% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Paloma Partners Management Co boosted its position in shares of Western Alliance Bancorporation by 129.1% in the 2nd quarter. Paloma Partners Management Co now owns 10,303 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 5,805 shares in the last quarter. Banco Santander S.A. bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $792,000. Alta Capital Management LLC boosted its position in shares of Western Alliance Bancorporation by 2.2% in the 3rd quarter. Alta Capital Management LLC now owns 305,271 shares of the financial services provider’s stock worth $17,366,000 after purchasing an additional 6,537 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Western Alliance Bancorporation by 4.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 24,283 shares of the financial services provider’s stock worth $1,375,000 after purchasing an additional 955 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $967,000. 84.63% of the stock is currently owned by hedge funds and other institutional investors.

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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