DA Davidson Comments on Western Alliance Bancorporation’s FY2021 Earnings (NYSE:WAL)


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Western Alliance Bancorporation (NYSE:WAL) – Analysts at DA Davidson lifted their FY2021 earnings per share estimates for Western Alliance Bancorporation in a research report issued to clients and investors on Tuesday, April 20th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $8.42 per share for the year, up from their prior estimate of $6.70. DA Davidson currently has a “Buy” rating and a $82.00 target price on the stock. DA Davidson also issued estimates for Western Alliance Bancorporation’s FY2022 earnings at $9.27 EPS.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company upgraded 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 research report on Monday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Western Alliance Bancorporation from $72.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group upgraded shares of Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $83.00 in a report on Friday, January 8th. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $81.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 17th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Western Alliance Bancorporation has an average rating of “Buy” and a consensus price target of $89.92.

Shares of Western Alliance Bancorporation stock opened at $101.08 on Thursday. The company has a market cap of $10.22 billion, a P/E ratio of 23.78 and a beta of 1.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. Western Alliance Bancorporation has a one year low of $26.75 and a one year high of $104.85. The firm has a fifty day moving average of $95.73 and a two-hundred day moving average of $68.51.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Wednesday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.43. Western Alliance Bancorporation had a net margin of 32.82% and a return on equity of 14.37%. During the same quarter in the previous year, the company posted $0.83 earnings per share.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC bought a new stake in shares of Western Alliance Bancorporation in the first quarter worth $267,000. Ingalls & Snyder LLC bought a new stake in shares of Western Alliance Bancorporation in the first quarter worth $252,000. Paragon Capital Management Ltd bought a new stake in shares of Western Alliance Bancorporation in the first quarter worth $251,000. Toth Financial Advisory Corp increased its stake in shares of Western Alliance Bancorporation by 61.3% in the first quarter. Toth Financial Advisory Corp now owns 484 shares of the financial services provider’s stock worth $46,000 after buying an additional 184 shares during the last quarter. Finally, DnB Asset Management AS increased its stake in shares of Western Alliance Bancorporation by 52.8% in the first quarter. DnB Asset Management AS now owns 133,966 shares of the financial services provider’s stock worth $12,687,000 after buying an additional 46,269 shares during the last quarter. Institutional investors own 84.14% of the company’s stock.

In other news, Director Robert P. Latta sold 2,474 shares of Western Alliance Bancorporation stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $95.53, for a total transaction of $236,341.22. Following the sale, the director now owns 3,074 shares in the company, valued at $293,659.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.46% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 5th. Stockholders of record on Friday, February 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Western Alliance Bancorporation’s dividend payout ratio is currently 20.66%.

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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Earnings History and Estimates for Western Alliance Bancorporation (NYSE:WAL)

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