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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.
Core CPI rose 0.3% in August versus July. While the increase was slightly higher than the 0.2% monthly gain in core CPI in July, it was still relatively tame.
D.A. Davidson analyst Gary P. Tenner on Tuesday reiterated a buy rating at $64 a share price target on Western Alliance Bancorp WAL, +2.22% even though the stock has outperformed its peers in recent weeks.
Investors turn bearish on JPMorgan (JPM), Bank of America (BAC), Comerica (CMA), Western Alliance (WAL) & KeyCorp (KEY) as banks brace for another ratings downgrade, this time from the Fitch.
Western Alliance plummeted during the banking meltdown in March, but it had been on more solid footing than most. The second quarter showed gains in deposits, loans, revenue, net income, and liquidity compared to Q1.
Management started positioning the bank for a harsh economic environment in the second half of 2022. It has built up a significant cushion to absorb potential losses.
During the first five months of 2023, there were investors who had difficulty believing in a sustained stock-market rally because the action was dominated by the largest technology companies. But the breadth of participation in the rally has expanded since then.