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Besides Wall Street's top -and-bottom-line estimates for Western Alliance (WAL), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2023.
PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation Announces Fourth Quarter and Full Year 2023 Earnings Release Date, Conference Call and Webcast.
Western Alliance (WAL) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Five stocks with recent dividend hike are in focus. These are: HUBB, AGRO, WAL, SJW, FBIZ.
Western Alliance reported strong Q3 earnings, but shares dropped 8% following the earnings report. The bank fully restored its deposit base, increasing deposits by $7.6B in Q3. The bank's net interest margin increased Q/Q. Western Alliance reduced its short-term borrowings by $820M Q/Q, creating a better balance sheet. The bank has further potential to move high-cost debt off its balance sheet.
Western Alliance Bancorporation has weathered the crisis and is on the mend, with its latest results beating expectations. The bank has recovered its Q1 deposit loss and its deposits are down only 2.5% from last year, performing better than the industry average. WAL's funding mix has shifted to a more normal footing, and its loan book is benefiting from rising yields and increased lending.
Western Alliance Bancorporation (NYSE:WAL ) Q3 2023 Earnings Conference Call October 20, 2023 12:00 PM ET Company Participants Miles Pondelik - Director, Investor Relations and Corporate Development Kenneth Vecchione - President and CEO Dale Gibbons - Chief Financial Officer Timothy Bruckner - Chief Credit Officer Conference Call Participants Casey Haire - Jefferies Steven Alexopoulos - JPMorgan Chris McGratty - KBW Bernard von-Gizycki - Deutsche Bank Brandon King - Truist Securities Ebrahim Poonawala - Bank of America Matthew Clark - Piper Sandler Gary Tenner - D.A. Davidson Andrew Terrell - Stephens Timur Braziler - Wells Fargo David Chiaverini - Wedbush David Smith - Autonomous Research Brody Preston - UBS Jon Arfstrom - RBC Operator Good day, everyone.
Western Alliance (WAL) came out with quarterly earnings of $1.97 per share, beating the Zacks Consensus Estimate of $1.91 per share. This compares to earnings of $2.42 per share a year ago.
PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation Announces Third Quarter 2023 Earnings Release Date, Conference Call and Webcast.
PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation Announces Third Quarter 2023 Earnings Release Date, Conference Call and Webcast.