(NYSE: $WAL ), a U.S. regional bank.
Where it stands now
The stock opened at $74.29 on Monday, Oct 12. Its 52-week range is $65.82 to $97.23, and its market cap was about $8.3 billion in early October.
Twelve analysts rate it Buy and four rate it Hold.
Analysts are split on price targets. JPMorgan cut its target from $93 to $90 on Oct 1. Barclays raised its target from $88 to $93 on Oct 5.
The next catalyst
The Q3 results come out after the market closes on Monday, Oct 19, with a conference call the next day at 12:00 p.m. ET.
Analysts expect earnings of $2.42 per share on about $988 million in revenue.
Recent background
In Q2 the bank cut its full-year loan growth guidance to $5 billion from $6 billion, and put $150 million into a share buyback, saying the stock trades at a meaningful discount to its intrinsic value.
Sources disagree on whether Q2 earnings met or missed expectations: Investing.com reports a miss, and MarketBeat reports they matched. Check the company's own report.
Positives: most analysts are positive, there is a buyback, and the price is well below its 52-week high.
Risks: loan growth expectations were lowered, and earnings reports can move bank stocks sharply either way.
This is information, not financial advice, and I'm not a financial advisor. The price I found is from Oct 12, so check the live price and the Oct 19 results before making any decision.
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Where it stands now
The stock opened at $74.29 on Monday, Oct 12. Its 52-week range is $65.82 to $97.23, and its market cap was about $8.3 billion in early October.
Twelve analysts rate it Buy and four rate it Hold.
Analysts are split on price targets. JPMorgan cut its target from $93 to $90 on Oct 1. Barclays raised its target from $88 to $93 on Oct 5.
The next catalyst
The Q3 results come out after the market closes on Monday, Oct 19, with a conference call the next day at 12:00 p.m. ET.
Analysts expect earnings of $2.42 per share on about $988 million in revenue.
Recent background
In Q2 the bank cut its full-year loan growth guidance to $5 billion from $6 billion, and put $150 million into a share buyback, saying the stock trades at a meaningful discount to its intrinsic value.
Sources disagree on whether Q2 earnings met or missed expectations: Investing.com reports a miss, and MarketBeat reports they matched. Check the company's own report.
Positives: most analysts are positive, there is a buyback, and the price is well below its 52-week high.
Risks: loan growth expectations were lowered, and earnings reports can move bank stocks sharply either way.
This is information, not financial advice, and I'm not a financial advisor. The price I found is from Oct 12, so check the live price and the Oct 19 results before making any decision.
#CPIWatch #TradersBetOnThreeMoreFedHikes #BastionPressesSkyAIOverSOLSales #PatrickWittExitsWhiteHouseCryptoRole #HEXFounderRichardHeartArrestedInIstanbul