Western Alliance Bancorp reports results for the quarter ended in March - Earnings Summary

• Western Alliance Bancorp WAL reported quarterly adjusted earnings of $1.60​​ per share for the quarter ended in March, lower than the same quarter last year, when the company reported EPS of $2.30. The mean expectation of fifteen analysts for the quarter was for earnings of $1.66 per share. Wall Street expected results to range from $1.53 to $1.84 per share.

• Revenue rose 6.8% to $589.20 million from a year ago; analysts expected $697.04 million.

• Western Alliance Bancorp's reported EPS for the quarter was $1.60​.

• The company reported quarterly net income of $174.2 million.

• Western Alliance Bancorp shares had fallen by 13.6% this quarter and lost 15.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 7.2% in the last three months.​

• In the last 30 days, eight analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell."

• Wall Street's median 12-month price target for Western Alliance Bancorp is $79.00

This summary was machine generated from LSEG data April 18 at 10:33 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)