Western Alliance Bancorporation Third Quarter Earnings Sneak Peek

Western Alliance Bancorporation (NYSE:WAL) will unveil its latest earnings on Monday, October 17, 2011. Western Alliance Bancorporation, through its subsidiary banks, provides a range of banking and related services to businesses, professional firms, real estate developers and investors, local nonprofit organizations, high net worth individuals, and consumers.

Western Alliance Bancorporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 6 cents per share after the company broke even in the year earlier quarter. During the past three months, the average estimate has moved down from 7 cents. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. For the year, analysts are projecting profit of 22 cents per share, a swing from a loss of 22 cents last year.

Past Earnings Performance: The company is looking to make a streak of three quarters of beating estimates. Last quarter, it beat expectations by reporting net income of 5 cents per share, and the previous quarter, it had profit of 4 cents.

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Wall St. Revenue Expectations: On average, analysts predict $71.4 million in revenue this quarter, a rise of 8% from the year ago quarter. Analysts are forecasting total revenue of $281.1 million for the year, a rise of 0.6% from last year’s revenue of $279.4 million.

Analyst Ratings: eight out of 15 analysts surveyed (53.3%) have a buy rating on Western Alliance.. This is below the mean analyst rating of 10 competitors, which average 59.5% buy ratings. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

A Look Back: In the second quarter, profit rose more than fivefold to $6.2 million (5 cents a share) from $1.2 million (-2 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 9.1% to $83.5 million from $91.8 million.

Key Stats:

Revenue has fallen in the past two quarters. In the first quarter, the figure fell 5.6%.

Competitors to Watch: Guaranty Bancorp (NASDAQ:GBNK), Zions Bancorporation (NASDAQ:ZION), People’s United Financial, Inc. (NASDAQ:PBCT), Wells Fargo & Company (NYSE:WFC), First State Bancorp., NM (FSNM), CoBiz Financial Inc (NASDAQ:COBZ), Heritage Oaks Bancorp (NASDAQ:HEOP), and Wilshire Bancorp, Inc. (NASDAQ:WIBC).

Stock Price Performance: During July 18, 2011 to October 11, 2011, the stock price had fallen 89 cents (-13.4%) from $6.65 to $5.76. The stock price saw one of its best stretches over the last year between September 9, 2011 and September 16, 2011 when shares rose for six-straight days, rising 9.2% (+48 cents) over that span. It saw one of its worst periods between May 31, 2011 and June 8, 2011 when shares fell for seven-straight days, falling 9.1% (-67 cents) over that span. Shares are down $1.60 (-21.7%) year to date.

(Source: Xignite Financials)

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.