Western Alliance Bancorp reports results for the quarter ended June 30 - Earnings Summary

• Western Alliance Bancorp WAL reported quarterly adjusted earnings of $2.07​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $1.71. The mean expectation of fifteen analysts for the quarter was for earnings of $2.03 per share. Wall Street expected results to range from $1.89 to $2.18 per share.

• Revenue rose 9.6% to $845.90 million from a year ago; analysts expected $838.24 million.

• Western Alliance Bancorp's reported EPS for the quarter was $2.07​.

• The company reported quarterly net income of $227.2 million.

• Western Alliance Bancorp shares had risen by 5.6% this quarter and lost 1.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.7% in the last three months.​

• In the last 30 days, four 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," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Western Alliance Bancorp is $95.00, about 10.9% above its last closing price of $84.61

This summary was machine generated from LSEG data July 17 at 09:00 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)