Western Alliance Bancorporation (NYSE:WAL) - Stock analysts at SunTrust Banks issued their Q3 2017 earnings per share (EPS) estimates for shares of Western Alliance Bancorporation in a report released on Thursday. SunTrust Banks analyst M. Young expects that the financial services provider will post earnings per share of $0.80 for the quarter. SunTrust Banks currently has a “Buy” rating and a $59.00 target price on the stock. SunTrust Banks also issued estimates for Western Alliance Bancorporation’s Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.08 EPS, Q1 2018 earnings at $0.84 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.93 EPS, Q4 2018 earnings at $0.96 EPS and FY2018 earnings at $3.60 EPS.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. The company had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. During the same quarter last year, the company posted $0.62 earnings per share.
A number of other research analysts also recently commented on WAL. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a report on Friday, May 5th. Keefe, Bruyette & Woods set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, June 26th. BidaskClub downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Barclays PLC reissued an “overweight” rating and issued a $59.00 price target (up previously from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.50.
In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 65,448 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the sale, the chairman now owns 54,000 shares in the company, valued at $2,721,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.95% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WAL. BNP Paribas Arbitrage SA boosted its stake in shares of Western Alliance Bancorporation by 72.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,060 shares during the last quarter. Winfield Associates Inc. boosted its stake in shares of Western Alliance Bancorporation by 0.6% in the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after buying an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Western Alliance Bancorporation by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock valued at $172,000 after buying an additional 469 shares during the last quarter. Investment Counselors of Maryland LLC purchased a new stake in shares of Western Alliance Bancorporation during the first quarter valued at about $186,000. Finally, Solaris Asset Management LLC boosted its stake in shares of Western Alliance Bancorporation by 1.3% in the first quarter. Solaris Asset Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.
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.
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