Western Alliance Bancorporation
) touched a new 52-week high of $19.01 during its trading session
on Sep 27. This denotes an increase over the previous high of
$18.75 reached on Jul 25.
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WESTERN ALLIANC (WAL): Free Stock Analysis
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Western Alliance Bancorporation closed the trading day on Sep 27
at $18.86, reflecting a solid year-to-date return of 84.9%. The
trading volume for the session was 0.84 million shares. Further
upside potential exists for this Zacks Rank #3 (Hold) multi-bank
holding company as can be deduced from its earnings estimate
revisions in the last 60 days and expected earnings growth of
68.4% for 2013.
Financial results for the second quarter 2013 for Western
Alliance Bancorporation were impressive; shares since then have
grown by 10.4%. Earnings per share at 31 cents represented an
increase from the Zacks Consensus Estimate of 27 cents.
Net interest income in the quarter grew 16% while a fall of 73.9%
was recorded for Western Alliance Bancorporation's provision for
loan losses. Non-interest income increased 46.8% year over year.
Talking of balance sheet of Western Alliance Bancorporation,
total assets grew by 20% in the quarter primarily due to an
increase of 24.1% in loans while borrowings and total deposits
were up by 20.5% and 16.7%, respectively. Loan to deposit ratio
improved 640 basis points.
Based on solid financial performances and an average positive
earnings surprise of 23.4% (considering trailing four quarters),
possibility is high for Western Alliance Bancorporation to post
solid results in the quarters ahead. Also, we have an
of +4.0% for 2013 and 8.3% for 2014.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for Western
Alliance Bancorporation has increased by 2.5% to $1.25 for 2013
and by 1.5% to $1.32 for 2014, respectively.
Western Alliance Bancorporation currently has a market
capitalization of $1.6 billion. Other stocks to watch out for in
the industry are
BofI Holding, Inc.
), with a Zacks Rank #1 (Strong Buy) while
BBCN Bancorp, Inc.
City National Corporation
), each hold a Zacks Rank #2 (Buy).