WAL - WAL

Western Alliance Stock (NYSE:WAL), Trade Ideas

Western Alliance

Western Alliance Bancorporation is a Las Vegas-based holding company with regional banks operating in Nevada, Arizona, and California. The bank offers retail banking services and focuses on mortgages for retail customers and commercial loans. The company's reportable segments are Commercial segment includes provides commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry. Consumer Related segment offers both commercial banking services to enterprises in consumer-related sectors and consumer banking services, such as residential mortgage banking. Corporate & Other.

Small Cap

Federal Reserve

Trading Ideas

FFWM

PACW

Time To Bet Against Bad Banks--Now That The Bank Term Funding Program Has Expired And Fed Rate Cuts Are On Hold

banks shutter

Analyst Color

Long Ideas

Analyst Ratings

FCNCA

MVBF

PNFP

JPMorgan&#39;s Alexopoulos has identified 7 bank stocks with strong growth potential. These Magnificent Seven picks are poised to thrive in the current market landscape.

JPMorgan&#39;s &#39;Magnificent Seven&#39; — Bank Version: These Stock Picks Have &#39;Strong Upside Potential&#39;

Galicia,,Spain;,March,12,,2023:,Western,Alliance,Financial,Services,Company

Earnings

News

Western Alliance Bancorp (WAL) reported strong Q1 earnings, beating EPS and revenue expectations. Analysts predict continued growth and value creation.

Western Alliance Stock Rises On Q1 Earnings Beat: Analyst Sees &#39;Above Peer Upside Potential&#39;

Western Alliance Bancorporation Common Stock (DE)

Western Alliance Bancorp

Waldencast PLC

MegaWatt Lithium and Battery Metals Corp Ordinary Shares

MEGAWATT LITHM&BATT MTLS by MEGAWATT LITHIUM & BATTERY METALS CORP.

MegaWatt Lithium and Battery Metals Corp

Western Alliance Bancorporation Depositary Shares, Each Representing a 1/400th Interest in a Share of 4.250% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A

<h3>Why Bet Against Banks Now?</h3>
Two main reasons. First, the Federal Reserve&rsquo;s new, post Silicon Valley Bank collapse assistance program,&nbsp;<a href="https://www.federalreserve.gov/financial-stability/bank-term-funding-program.htm" rel="">The Bank Term Funding Program</a>&nbsp;(BTFP), has expired. And second, the Fed&rsquo;s first rate cut&mdash;initially expected in the first quarter of this year&mdash;has been pushed off indefinitely due to persistent inflation. So banks still have to compete for depositors with higher yielding money market funds.
<h3>A Simpler And Cheaper Approach</h3>
Last year around this time, I used a banking expert&rsquo;s approach to try to figure out which regional banks were most likely to go bust. I made money betting against Bank of Hawaii Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/boh#NYSE">BOH</a>) and First Foundation, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ffwm#NYSE">FFWM</a>), and added more bearish positions after the crashes of PacWest Bancorp (now Banc of California) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pacw#NASDAQ">PACW</a>) and Western Alliance Bancorporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wal#NYSE">WAL</a>),&nbsp;
<blockquote>Betting Against More Regional Banks &#127974; In the wake of the <a href="https://twitter.com/search?q=%24PACW&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PACW</a> and <a href="https://twitter.com/search?q=%24WAL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WAL</a> crashes, And after exiting bets against <a href="https://twitter.com/search?q=%24BOH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BOH</a> and <a href="https://twitter.com/search?q=%24FFWM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FFWM</a> for gains of 80% and 200%, respectively. <a href="https://t.co/IVYBvKF31s">https://t.co/IVYBvKF31s</a> <a href="https://t.co/UCdAoq8Kfv">pic.twitter.com/UCdAoq8Kfv</a>
&mdash; Portfolio Armor (@PortfolioArmor) <a href="https://twitter.com/PortfolioArmor/status/1654190021509775360?ref_src=twsrc%5Etfw">May 4, 2023</a></blockquote>
&nbsp;
I was going to pay the same analyst I used to update the spreadsheet we came up with with the latest data, but before doing so, I looked at the half dozen or so names that were ranked as the &ldquo;worst&rdquo; banks according to the banking expert&rsquo;s methodology, and checked how their share prices did over the last 12 months.
A couple had gone bust, but those were ones that were already in obvious trouble when we put the spreadsheet together. The others were all up significantly over the last 12 months. Apparently, they hadn&rsquo;t exhausted the BTFP after all.
So here&rsquo;s what I did instead. I went to&nbsp;<a href="https://www.chartmill.com/stock/stock-screener?f=m_opts,sl_he_X_2,sl_ta_X_4,sl_pio_X_2,exch_us,gics_165&amp;a=221937" rel="">Chartmill</a>&nbsp;and ran this screen:
<ul>
<li>
<a href="https://en.wikipedia.org/wiki/Global_Industry_Classification_Standard" rel="">GICS</a>: Financial.
</li>
<li>
Has options
</li>
<li>
U.S. only.
</li>
<li>
Health Rating: &lt; 2 (on a scale from 0-10).
</li>
<li>
<a href="https://www.oldschoolvalue.com/investment-tools/piotroski-f-score-screening-early-often/" rel="">Piotroski F-Score</a>: 2 or less (on a scale from 0-9).
</li>
<li>
Technical Rating: 4 or less (on a scale of 0-10).
</li>
</ul>
Then I did a bit of research on the names that came up, to see if there were any potential bullish indicators on these banks that the screens missed.
<h3>An Ill-Fated Insider Purchase</h3>
There was a $25k insider purchase on one of these banks in March, but:
<ul>
<li>
The shares are down ~28% since then.
</li>
<li>
And the bank missed its earnings in April.
</li>
</ul>
So this insider doesn&rsquo;t appear to know much. And we&rsquo;ve got two banks that look like real dogs for us to bet against.
Read the rest&nbsp;<a href="https://portfolioarmor.substack.com/p/trade-alert-betting-against-banks">here</a>.&nbsp;
&nbsp;
If you want to stay in touch.
You can scan for optimal hedges for individual securities, find our current top ten names, and create hedged portfolios on&nbsp;<a href="https://portfolioarmor.com/">our website</a>.&nbsp;You can also follow Portfolio Armor on X&nbsp;<a href="https://twitter.com/portfolioarmor">here</a>, or become a free subscriber to our trading Substack using the link below (we&#39;re using that for our occasional emails now).
<iframe frameborder="0" height="320" src="https://portfolioarmor.substack.com/embed" width="480"></iframe>
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Throughout the last three months, 16 analysts have evaluated Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">10</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $78.62, a high estimate of $91.00, and a low estimate of $68.00. A 3.73% drop is evident in the current average compared to the previous average price target of $81.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1715194907_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The standing of Western Alliance among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$70.00</td>
<td>-</td>
</tr>
<tr>
<td>Jared Shaw</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$86.00</td>
<td>$91.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$75.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$76.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Gary Tenner</td>
<td>DA Davidson</td>
<td>Lowers</td>
<td>Buy</td>
<td>$78.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Christopher Mcgratty</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$74.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Andrew Terrell</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$82.00</td>
<td>-</td>
</tr>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$70.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Timur Braziler</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$68.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$78.00</td>
<td>-</td>
</tr>
<tr>
<td>Casey Haire</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$70.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$85.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$80.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Gary Tenner</td>
<td>DA Davidson</td>
<td>Maintains</td>
<td>Buy</td>
<td>$85.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Jared Shaw</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$91.00</td>
<td>-</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$85.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Western Alliance. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Western Alliance compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Western Alliance's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Western Alliance's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WAL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Western Alliance analyst ratings.</a>
<h2>All You Need to Know About Western Alliance</h2>
Western Alliance Bancorporation is a Las Vegas-based holding company with regional banks operating in Nevada, Arizona, and California. The bank offers retail banking services and focuses on mortgages for retail customers and commercial loans. The company's reportable segments are Commercial segment includes provides commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry. Consumer Related segment offers both commercial banking services to enterprises in consumer-related sectors and consumer banking services, such as residential mortgage banking. Corporate &amp; Other.
<h3>Western Alliance's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Western Alliance's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 28.89%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Western Alliance's net margin excels beyond industry benchmarks, reaching 30.18%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.99%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Western Alliance's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.24%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Western Alliance's debt-to-equity ratio stands notably higher than the industry average, reaching 1.24. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>How Are Analyst Ratings Determined?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Expectations For Western Alliance's Future

Wedbush analyst David Chiaverini reiterates Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Outperform and maintains $70 price target.

Price Target

Reiteration

Wedbush Reiterates Outperform on Western Alliance, Maintains $70 Price Target

JPMorgan analyst Steven Alexopoulos has identified seven bank stocks poised for significant growth in the current market landscape. He&#8217;s referred to these picks as <a href="https://www.benzinga.com/topic/magnificent-seven">&#8220;our &#8216;Magnificent Seven'&#8221;</a>.
<h3 class="wp-block-heading">JPMorgan&#8217;s Magnificent Seven Bank Stock Picks</h3>
Alexopoulos&#8217; picks from among mid- and small-cap banks, and his views (summarized) on them are as follows:
<ul>
<li>First Citizens BancShares Inc (Delaware) Class A (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>): Despite a challenging VC environment in 1Q24, First Citizens&#8217; acquisition of SVB has stabilized deposit balances and increased new deposits, indicating potential growth in the future. The bank&#8217;s asset-sensitive balance sheet could benefit from potential Fed rate cuts, leading to strong net interest income growth.</li>
<li>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>): Western Alliance achieved key financial targets in 1Q24, setting the stage for continued growth, particularly driven by its national businesses outperforming peers. With shares trading at an elevated implied cost of equity, there is significant upside potential for shareholders.</li>
<li>Live Oak Bancshares Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>): Delayed Fed rate cuts have postponed the benefit to Live Oak&#8217;s liability-sensitive balance sheet, but the bank&#8217;s long-term growth story remains intact. LOB is well-positioned for growth with strong loan originations and a favorable valuation.</li>
<li>Pinnacle Financial Partners Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>): Pinnacle stands out among regional banks with strong balance sheet growth exceeding peers. The bank&#8217;s high growth footprint and focus on client relationships could lead to a favorable NIM outlook and further upside in revenue.</li>
<li>Cullen/Frost Bankers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>): With a founder-inspired culture and strong balance sheet, Frost continues to invest for the long term. Despite modest NII guidance adjustments, Frost&#8217;s trajectory points to an increase in NIM and strong growth ahead.</li>
<li>MVB Financial Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVBF#NASDAQ">MVBF</a>): MVBF shares underperformed peers due to NIM compression, but this is expected to reverse in 2Q. With a strong foothold in the online gaming industry and attractive valuation, MVBF is poised for long-term growth.</li>
<li>Webster Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>): Despite underperforming peers in 1Q24, Webster&#8217;s sell-off is seen as an overreaction. While the company lowered its loan growth outlook, strong loan growth in 1Q24 and potential improvements in 2H24 could lead to upside. Shares trade at a discount to peers, offering an attractive buying opportunity.</li>
</ul>
The analysis comes on the heels of the U.S. mid- and small-cap banks&#8217; 1Q24 earnings outlook, which showed a mixed bag of results.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38301893/market-reaction-to-bank-earnings-is-mixed-jpmorgan-analysts-project-further-decline">Market Reaction To Bank Earnings Is Mixed, JPMorgan Analysts Project Further Decline In Net Interest Income</a>
<h3 class="wp-block-heading">US Mid- And Small-Cap Banks&#8217; Outlook</h3>
For Alexopoulos, key takeaways from the quarter included: &#8220;NIMs trending flat, minimal loan and deposit growth being delivered, and credit quality trends remaining strong despite one-offs.&#8221; These should translate into improved loan growth trends in the second half of the year.
However, there are challenges on the horizon. Economic growth has been robust in recent years, but loan demand has remained limited. 
Moreover, the timing for Fed rate cuts, which many banks were banking on for a significant uptick in growth, is now uncertain. 
Recent inflation data has come in higher than expected, prompting the Fed to hold off on rate cuts until there is more confidence in the inflation trajectory.
&#8220;We believe the Fed may need to see several inflation readings trending more favorably before it considers lowering the funds rate,&#8221; said Alexopoulos.
<h3 class="wp-block-heading">Strong Upside Potential</h3>
Despite these challenges, JPMorgan remains bullish on the sector, citing &#8220;strong upside potential&#8221; and low odds of negative catalysts such as rate hikes.
Alexopoulos views the &#8220;Magnificent Seven&#8221; picks as particularly well-positioned to drive significant intrinsic value growth in the current environment.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38643266/why-veteran-wall-street-investor-believes-were-still-in-a-bull-market">Why Veteran Wall Street Investor Believes We&#8217;re Still In A Bull Market</a>
Image: Shutterstock

JPMorgan's 'Magnificent Seven' — Bank Version: These Stock Picks Have 'Strong Upside Potential'

Barclays analyst Jared Shaw maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Overweight and lowers the price target from $91 to $86.

Barclays Maintains Overweight on Western Alliance, Lowers Price Target to $86

Western Alliance Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) investors have been rejoicing with the stock up 3% since the company delivered <a href="https://www.benzinga.com/quote/WAL/earnings">an earnings beat</a>.
The bank delivered a 3.61% surprise on EPS and a 4.56% surprise on revenue, as it reported Q1 numbers on April 18 after market close.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/04/38280369/financial-stocks-fall-after-earnings-major-banks-notch-4-day-losing-streak-regional-banks-hit-lowes">Financial Stocks Fall After Earnings, Major Banks Notch 4-Day Losing Streak: Regional Banks Hit Lowest Level Since Late 2023</a>
<h2 class="wp-block-heading">The Western Alliance Analyst</h2>
 JPMorgan analyst Steven Alexopoulos, CFA has an Overweight rating on the stock with a price target of $80. &#8220;With the company having reached its financial targets, we see the strong growth continuing through 2024 and 2025,&#8221; he said.
The stock trades at an attractive valuation of 7.0x 2024e EPS and an elevated implied cost of equity. Western Alliance presents an opportunity for investors to capitalize on its growth potential. Alexopoulos continues to &#8220;see above peer upside potential&#8221; with Western Alliance stock.
<h2 class="wp-block-heading">The Western Alliance Thesis</h2>
Alexopoulos suggests that Western Alliance is poised for continued growth. With its recent first-quarter results showcasing strong momentum and the bank achieving key financial targets, it is positioned to outpace its peers in the coming years.
<h3 class="wp-block-heading">Strategic Efficiency And Notable Achievements</h3>
In the aftermath of the challenges faced over the past year &#8211; including navigating through market volatility and economic uncertainty &#8211; Western Alliance has executed its strategy effectively. The bank focused on increasing its capital and liquidity levels, laying a solid foundation for future growth, the analyst notes.
The bank&#8217;s Q1 earnings further demonstrate robust performance, with notable achievements such as:
<ul>
<li>a decrease in the loan-to-deposit ratio to 82%</li>
<li>a Common Equity Tier 1 (CET1) ratio meeting the 11% target</li>
<li>deposit growth surged, with period-end balances rising by 50% annualized, nearing $7 billion QoQ</li>
</ul>
With these financial targets met, Alexopoulos sees Western Alliance sustaining its strong growth trajectory throughout 2024 and 2025.
Despite projected modest loan and deposit growth ranges, the bank has the potential to exceed these targets, leveraging its diverse business verticals and enhanced risk profile.
<h3 class="wp-block-heading">Positioned To Benefit From Rate Cuts</h3>
Moreover, Western Alliance stands in a favorable position to benefit from future Federal Reserve rate cuts. As interest rates decline, the bank expects to see increased loan demand, further bolstering its loan growth outlook. Additionally, Western Alliance anticipates lower deposit costs on its ECR deposits, which will mitigate the impact of reduced earning asset yields, Alexopoulos notes.
Looking ahead, the analyst outlines optimistic projections for Western Alliance in 2024. He sees an increase in loans held for investment (HFI) by $4 billion annually and a surge in deposits by $11 billion annually. Net interest income and fee income are also expected to rise backed by &#8220;several tailwinds&#8221;, while expenses, including ECR deposit costs, are projected to increase moderately.
Western Alliance Bancorp stands out as a &#8220;top pick&#8221; in the banking sector, primed to deliver above-peer growth and sustained value creation for shareholders.
WAL Price Action: Western Alliance stock was up 2.3% at $58.77 at the time of publication Monday.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38361158/regional-banks-surge-earnings-propel-rebound-from-key-support-level-at-200-day-aver">Regional Banks Surge: Earnings Propel Rebound From Key Support Level At 200-Day Average</a>
Photo: Shutterstock

Western Alliance Stock Rises On Q1 Earnings Beat: Analyst Sees 'Above Peer Upside Potential'

Editor&#8217;s note: This story has been corrected to reflect that Western Alliance Bancorporation reported an adjusted earnings beat. 
Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) reported its first-quarter financial results after the bell Thursday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/b38324109/western-alliance-bancorporation-reports-first-quarter-2024-financial-results">look at the details. </a>
The Details: Western Alliance reported adjusted earnings per share of $1.72, beating the consensus estimate of $1.66.
The company reported quarterly sales of $728.8 million which beat the analyst consensus estimate of $697.04 million by 4.56% and represents a 32.05% increase over sales of $551.9 million year-over-year. 
Western Alliance delivered a return on tangible common equity of 14.5% and tangible book value per share climbed 13.8% year-over-year to $47.30 with a CET 1 ratio of 11%.
&#8220;Western Alliance delivered strong first quarter results with continued robust business and deposit momentum that allowed us to largely complete our balance sheet repositioning efforts, while maintaining stable asset quality,&#8221; said Kenneth A. Vecchione, CEO of Western Alliance.
&#8220;Quarterly deposit growth of $6.9 billion enhanced our liquidity profile, drove the loan-to-deposit ratio down to 81.5%, and allowed us to repay $1.0 billion of borrowings,&#8221; Vecchione added.
Western Alliance will host a <a href="https://www.benzinga.com/pressreleases/24/04/b38173227/western-alliance-bancorporation-announces-first-quarter-2024-earnings-release-date-conference-call">conference call</a> Friday at 12 p.m. ET to discuss the results. 
Related News: <a href="https://www.benzinga.com/news/24/04/38299189/whats-going-on-with-arm-holdings-stock">What&#8217;s Going On With Arm Holdings Stock?</a>
WAL Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Western Alliance shares are down 3.66% after-hours at $53.70 at the time of publication Thursday.
Photo: Robert Owen-Wahl from Pixabay

After-Hours Center

Movers

Western Alliance Reports Q1 Earnings, Revenue Beats: What You Need To Know (CORRECTED)

Truist Securities analyst Brandon King maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Buy and lowers the price target from $80 to $75.

Truist Securities Maintains Buy on Western Alliance, Lowers Price Target to $75

RBC Capital analyst Jon Arfstrom maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Outperform and lowers the price target from $78 to $76.

RBC Capital Maintains Outperform on Western Alliance, Lowers Price Target to $76

DA Davidson analyst Gary Tenner maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Buy and lowers the price target from $85 to $78.

DA Davidson Maintains Buy on Western Alliance, Lowers Price Target to $78

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Outperform and lowers the price target from $79 to $74.

Keefe, Bruyette & Woods Maintains Outperform on Western Alliance, Lowers Price Target to $74

WIIM

Western Alliance shares are trading higher following better-than-expected Q1 financial results.

Stephens &amp; Co. analyst Andrew Terrell reiterates Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Overweight and maintains $82 price target.

Stephens & Co. Reiterates Overweight on Western Alliance, Maintains $82 Price Target

12 analysts have shared their evaluations of Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Western Alliance, presenting an average target of $79.08, a high estimate of $91.00, and a low estimate of $68.00. This upward trend is evident, with the current average reflecting a 1.51% increase from the previous average price target of $77.90.
<img src="https://www.benzinga.com/files/images/story/2024/1713535280_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The analysis of recent analyst actions sheds light on the perception of Western Alliance by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$70.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Timur Braziler</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$68.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$78.00</td>
<td>-</td>
</tr>
<tr>
<td>Casey Haire</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$70.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$85.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$80.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Gary Tenner</td>
<td>DA Davidson</td>
<td>Maintains</td>
<td>Buy</td>
<td>$85.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Jared Shaw</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$91.00</td>
<td>-</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Jared Shaw</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$72.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Ben Gerlinger</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$82.00</td>
<td>$76.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$78.00</td>
<td>$74.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Western Alliance. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Western Alliance compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Western Alliance's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Western Alliance's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/WAL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Western Alliance analyst ratings.</a>
<h2>All You Need to Know About Western Alliance</h2>
Western Alliance Bancorporation is a Las Vegas-based holding company with regional banks operating in Nevada, Arizona, and California. The bank offers retail banking services and focuses on mortgages for retail customers and commercial loans. The company's reportable segments are Commercial segment includes provides commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry. Consumer Related segment offers both commercial banking services to enterprises in consumer-related sectors and consumer banking services, such as residential mortgage banking. Corporate &amp; Other.
<h3>Financial Insights: Western Alliance</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Challenges: Western Alliance's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -10.31%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Western Alliance's net margin excels beyond industry benchmarks, reaching 26.84%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Western Alliance's ROE stands out, surpassing industry averages. With an impressive ROE of 2.58%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Western Alliance's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.2%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.4, caution is advised due to increased financial risk.
<h2>Analyst Ratings: What Are They?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Closer Look at 12 Analyst Recommendations For Western Alliance

Wedbush analyst David Chiaverini maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Outperform and lowers the price target from $75 to $70.

Wedbush Maintains Outperform on Western Alliance, Lowers Price Target to $70

Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) reported quarterly earnings of $1.72 per share which beat the analyst consensus estimate of $1.66 by 3.61 percent. This is a 25.22 percent decrease over earnings of $2.30 per share from the same period last year. The company reported quarterly sales of $728.80 million which beat the analyst consensus estimate of $697.04 million by 4.56 percent. This is a 32.05 percent increase over sales of $551.90 million the same period last year.

UPDATE: Western Alliance Q1 Adj EPS $1.72 Beats $1.66 Estimate, Sales $728.80M Beat $697.04M Estimate

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$370.00</td>
<td>$107.1K</td>
<td>1.8K</td>
<td>1.8K</td>
</tr>
<tr>
<td>NU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$10.00</td>
<td>$46.9K</td>
<td>2.6K</td>
<td>1.8K</td>
</tr>
<tr>
<td>IBKR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$105.00</td>
<td>$60.0K</td>
<td>117</td>
<td>829</td>
</tr>
<tr>
<td>GL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$65.00</td>
<td>$27.2K</td>
<td>1.1K</td>
<td>591</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$210.00</td>
<td>$25.3K</td>
<td>369</td>
<td>433</td>
</tr>
<tr>
<td>C</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$55.00</td>
<td>$27.3K</td>
<td>27.3K</td>
<td>418</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$220.00</td>
<td>$27.1K</td>
<td>1.0K</td>
<td>270</td>
</tr>
<tr>
<td>UBS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$25.00</td>
<td>$26.2K</td>
<td>1.5K</td>
<td>245</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$85.00</td>
<td>$75.7K</td>
<td>10.9K</td>
<td>124</td>
</tr>
<tr>
<td>WAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$60.00</td>
<td>$38.6K</td>
<td>228</td>
<td>89</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we notice a call option sweep that happens to be bullish, expiring in 1 day(s) on April 19, 2024. This event was a transfer of 32 contract(s) at a $370.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $107.1K, with a price of $3350.0 per contract. There were 1828 open contracts at this strike prior to today, and today 1835 contract(s) were bought and sold. 
• For NU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), we notice a put option sweep that happens to be bullish, expiring in 29 day(s) on May 17, 2024. This event was a transfer of 1807 contract(s) at a $10.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $46.9K, with a price of $26.0 per contract. There were 2649 open contracts at this strike prior to today, and today 1820 contract(s) were bought and sold. 
• Regarding IBKR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>), we observe a put option sweep with bearish sentiment. It expires in 29 day(s) on May 17, 2024. Parties traded 500 contract(s) at a $105.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $60.0K, with a price of $120.0 per contract. There were 117 open contracts at this strike prior to today, and today 829 contract(s) were bought and sold. 
• For GL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>), we notice a call option trade that happens to be bullish, expiring in 29 day(s) on May 17, 2024. This event was a transfer of 47 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $27.2K, with a price of $580.0 per contract. There were 1184 open contracts at this strike prior to today, and today 591 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option trade that happens to be bullish, expiring in 428 day(s) on June 20, 2025. This event was a transfer of 3 contract(s) at a $210.00 strike. The total cost received by the writing party (or parties) was $25.3K, with a price of $8450.0 per contract. There were 369 open contracts at this strike prior to today, and today 433 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a put option sweep with bullish sentiment. It expires in 64 day(s) on June 21, 2024. Parties traded 242 contract(s) at a $55.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $27.3K, with a price of $113.0 per contract. There were 27356 open contracts at this strike prior to today, and today 418 contract(s) were bought and sold. 
• For AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we notice a call option sweep that happens to be bullish, expiring in 64 day(s) on June 21, 2024. This event was a transfer of 25 contract(s) at a $220.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $27.1K, with a price of $1085.0 per contract. There were 1025 open contracts at this strike prior to today, and today 270 contract(s) were bought and sold. 
• Regarding UBS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), we observe a put option sweep with bullish sentiment. It expires in 274 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $25.00 strike. This particular put needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $26.2K, with a price of $131.0 per contract. There were 1514 open contracts at this strike prior to today, and today 245 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a call option sweep with bearish sentiment. It expires in 29 day(s) on May 17, 2024. Parties traded 473 contract(s) at a $85.00 strike. This particular call needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $75.7K, with a price of $160.0 per contract. There were 10994 open contracts at this strike prior to today, and today 124 contract(s) were bought and sold. 
• For WAL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), we notice a call option trade that happens to be bearish, expiring in 274 day(s) on January 17, 2025. This event was a transfer of 49 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $38.6K, with a price of $788.0 per contract. There were 228 open contracts at this strike prior to today, and today 89 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

COIN

IBKR

10 Financials Stocks Whale Activity In Today's Session

<h3>Companies Reporting Before The Bell</h3>
&bull; Addex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>) is estimated to report earnings for its fourth quarter.
&bull; Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) is estimated to report quarterly earnings at $0.06 per share on revenue of $5.09 billion.
&bull; Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is likely to report quarterly earnings at $1.31 per share on revenue of $18.41 billion.
&bull; TH International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THCH#NASDAQ">THCH</a>) is projected to report earnings for its fourth quarter.
&bull; Ohmyhome (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMH#NASDAQ">OMH</a>) is likely to report earnings for its Fiscal Year 2023.
&bull; Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) is likely to report quarterly loss at $0.97 per share on revenue of $2.13 billion.
&bull; Snap-on (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNA#NYSE">SNA</a>) is projected to report quarterly earnings at $4.65 per share on revenue of $1.20 billion.
&bull; Texas Capital Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is projected to report quarterly earnings at $0.61 per share on revenue of $253.42 million.
&bull; Infosys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>) is likely to report quarterly earnings at $0.17 per share on revenue of $4.55 billion.
&bull; Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) is expected to report quarterly earnings at $0.47 per share on revenue of $89.01 million.
&bull; Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $1.98 billion.
&bull; Genuine Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) is estimated to report quarterly earnings at $2.16 per share on revenue of $5.84 billion.
&bull; Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) is likely to report quarterly earnings at $1.12 per share on revenue of $807.79 million.
&bull; KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $1.51 billion.
&bull; Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) is projected to report quarterly earnings at $10.49 per share on revenue of $42.62 billion.
&bull; Badger Meter (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>) is projected to report quarterly earnings at $0.82 per share on revenue of $182.26 million.
&bull; S&amp;T Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STBA#NASDAQ">STBA</a>) is expected to report quarterly earnings at $0.79 per share on revenue of $95.94 million.
&bull; ManpowerGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAN#NYSE">MAN</a>) is likely to report quarterly earnings at $0.91 per share on revenue of $4.43 billion.
&bull; Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is expected to report quarterly earnings at $0.98 per share on revenue of $2.53 billion.
&bull; Iridium Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) is estimated to report quarterly earnings at $0.15 per share on revenue of $193.75 million.
&bull; Apogee Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) is expected to report quarterly earnings at $1.01 per share on revenue of $337.83 million.
&bull; OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) is projected to report quarterly earnings at $0.97 per share on revenue of $152.67 million.
&bull; Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) is estimated to report quarterly earnings at $2.80 per share on revenue of $6.39 billion.
&bull; Home BancShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>) is expected to report quarterly earnings at $0.46 per share on revenue of $240.40 million.
&bull; Forestar Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOR#NYSE">FOR</a>) is projected to report quarterly earnings at $0.72 per share on revenue of $325.91 million.
&bull; D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) is likely to report quarterly earnings at $3.06 per share on revenue of $8.28 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $109.71 million.
&bull; Five Point Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPH#NYSE">FPH</a>) is expected to report earnings for its first quarter.
&bull; Provident Finl Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $92.95 million.
&bull; Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) is expected to report quarterly earnings at $1.67 per share on revenue of $697.64 million.
&bull; Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $174.77 million.
&bull; Banco Latinoamericano (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLX#NYSE">BLX</a>) is expected to report earnings for its first quarter.
&bull; Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) is expected to report quarterly earnings at $0.34 per share on revenue of $171.99 million.
&bull; First Western Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYFW#NASDAQ">MYFW</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $22.97 million.
&bull; Alpine Income Prop Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINE#NYSE">PINE</a>) is projected to report quarterly earnings at $0.38 per share on revenue of $11.63 million.
&bull; Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) is projected to report quarterly earnings at $1.34 per share on revenue of $64.56 million.
&bull; Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is likely to report quarterly earnings at $4.50 per share on revenue of $9.26 billion.
&bull; OceanFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $87.72 million.
&bull; PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) is expected to report quarterly earnings at $1.86 per share on revenue of $4.43 billion.
&bull; SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $9.50 million.
&bull; Intuitive Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) is estimated to report quarterly earnings at $1.41 per share on revenue of $1.87 billion.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 18, 2024

Wells Fargo analyst Timur Braziler maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Equal-Weight and lowers the price target from $72 to $68.

Wells Fargo Maintains Equal-Weight on Western Alliance, Lowers Price Target to $68

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