* Western Alliance Bancorp 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) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Mar. 31 2024 1.66 1.60 Missed
Dec. 31 2023 1.88 1.91 Beat
Sep. 30 2023 1.91 1.84 Missed
Jun. 30 2023 1.98 1.96 Missed
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