Western Alliance Bancorporation (NYSE:WAL) – Research analysts at SunTrust Banks lifted their Q1 2018 earnings per share estimates for Western Alliance Bancorporation in a research note issued on Monday. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings per share of $0.93 for the quarter, up from their previous estimate of $0.86. SunTrust Banks has a “Buy” rating and a $62.00 price objective on the stock. SunTrust Banks also issued estimates for Western Alliance Bancorporation’s Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $1.05 EPS, Q4 2018 earnings at $1.08 EPS and FY2018 earnings at $4.03 EPS.

WAL has been the subject of a number of other reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $64.50 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Barclays increased their price target on Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, September 12th. Jefferies Group restated a “buy” rating and issued a $57.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, September 26th. Finally, DA Davidson restated a “buy” rating and issued a $64.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Western Alliance Bancorporation has an average rating of “Buy” and a consensus target price of $62.94.

Shares of Western Alliance Bancorporation (WAL) opened at $58.65 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. Western Alliance Bancorporation has a 12 month low of $44.64 and a 12 month high of $60.25. The company has a market capitalization of $6,210.00, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.39 and a beta of 1.76.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The company had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $212.27 million. During the same period last year, the business posted $0.66 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year.

In other news, Director Marianne Boyd Johnson sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 3,295 shares in the company, valued at $179,313.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Gary Sarver sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $55.22, for a total value of $5,522,000.00. Following the completion of the transaction, the chief executive officer now owns 54,000 shares of the company’s stock, valued at $2,981,880. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,000 shares of company stock valued at $9,780,670. Company insiders own 7.95% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new position in Western Alliance Bancorporation during the third quarter valued at approximately $133,000. BNP Paribas Arbitrage SA raised its position in Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 469 shares in the last quarter. Dearborn Partners LLC purchased a new position in Western Alliance Bancorporation during the third quarter valued at approximately $205,000. Finally, Meeder Asset Management Inc. purchased a new position in Western Alliance Bancorporation during the third quarter valued at approximately $212,000. Institutional investors own 81.59% 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.

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

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