Western Alliance Bancorporation (NYSE:WAL) is reporting third quarter earnings results on Thursday 22nd October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.04 per share.
For the full year, analysts predict revenues of $ 1226.60 million, while looking forward to income of $ 3.90 per share.
Previous Quarter Performance
Western Alliance Bancorporation came out with income for the second quarter of $ 0.93 per share, from the revenue of $ 319.67 million. The quarterly earnings dropped 21.85 percent while revenues developed 18.88 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.78 per share from $ 307.92 million in revenue. The bottom line results beat street analysts by $ 0.15 or 19.23 percent, at the same time, top line results outshined analysts by $ 11.75 million or 3.82 percent.
Stock Performance
Shares of Western Alliance Bancorporation traded up $ 0.52 or 1.36 percent on Wednesday, reaching $ 38.79 with volume of 583.20 thousand shares. Western Alliance Bancorporation has traded high as $ 39.06 and has cracked $ 38.07 on the downward trend
The closing price of $ 38.79, representing a 83.11 % increase from the 52 week low of $ 20.90 and a 35.07 % decrease over the 52 week high of $ 58.94.
The company has a market capital of $ 3.91 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Conference Call
Western Alliance Bancorporation will be hosting a conference call at 12:00 PM eastern time on 23rd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.westernalliancebancorporation.com
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts. It also offers commercial and industrial loan products, such as working capital lines of credit, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans.
