Western Alliance Bancorporation (NYSE:WAL) Releases Earnings Results, Beats Estimates By $0.03 EPS

Western Alliance Bancorporation (NYSE:WALGet Free Report) issued its earnings results on Friday. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03, Briefing.com reports. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. During the same quarter in the prior year, the business earned $2.30 earnings per share.

Western Alliance Bancorporation Trading Up 3.0 %

Shares of WAL opened at $57.44 on Friday. Western Alliance Bancorporation has a twelve month low of $11.35 and a twelve month high of $70.23. The company has a market cap of $6.33 billion, a P/E ratio of 8.37 and a beta of 1.47. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The company’s fifty day simple moving average is $59.50 and its 200-day simple moving average is $56.51.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WAL shares. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Citigroup upped their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $78.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 9th. Truist Financial restated a “buy” rating and set a $80.00 target price on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. Finally, Barclays began coverage on shares of Western Alliance Bancorporation in a research report on Friday, March 8th. They set an “overweight” rating and a $91.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.36.

View Our Latest Research Report on WAL

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently made changes to their positions in the company. DRW Securities LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $564,000. GSA Capital Partners LLP purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $989,000. Public Employees Retirement System of Ohio raised its stake in shares of Western Alliance Bancorporation by 31.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 104,296 shares of the financial services provider’s stock valued at $6,862,000 after acquiring an additional 25,118 shares during the period. Chartwell Investment Partners LLC increased its stake in Western Alliance Bancorporation by 12.6% in the 4th quarter. Chartwell Investment Partners LLC now owns 45,096 shares of the financial services provider’s stock worth $2,967,000 after buying an additional 5,038 shares during the period. Finally, Voya Investment Management LLC increased its stake in Western Alliance Bancorporation by 91.4% in the 4th quarter. Voya Investment Management LLC now owns 329,096 shares of the financial services provider’s stock worth $21,651,000 after buying an additional 157,124 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

(Get Free Report)

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 through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.

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Earnings History for Western Alliance Bancorporation (NYSE:WAL)

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