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Like many midsize bank, Western Alliance was rattled by the failures of several regional banks earlier this year. The second quarter was a transitional period.
Western Alliance Bancorporation (NYSE:WAL ) Q2 2023 Earnings Conference Call July 19, 2023 12:00 PM ET Company Participants Miles Pondelik - Director, Investor Relations and Corporate Development Ken Vecchione - President and CEO Dale Gibbons - Chief Financial Officer Tim Bruckner - Chief Credit Officer Conference Call Participants Ben Gerlinger - Hovde Group Casey Haire - Jefferies Bernard von-Gizycki - Deutsche Bank Steven Alexopoulos - JPMorgan Chris McGratty - KBW David Chiaverini - Wedbush Timur Braziler - Wells Fargo Gary Tenner - D.A. Davidson Ebrahim Poonawala - Bank of America Jon Arfstrom - RBC Brody Preston - UBS David Smith - Autonomous Research Operator Good day, everyone.
PacWest Bancorp PACW, +8.50% is down 0.3% as one of the most active stocks in premarket trades on Wednesday with volume of 164,000 shares, according to the MarketWatch Premarket Screener. PacWest is due to report its second-quarter results on July 25, with analysts currently expecting a loss of 66 cents a share for the bank, according to FactSet data.
Western Alliance (WAL) came out with quarterly earnings of $1.96 per share, missing the Zacks Consensus Estimate of $1.98 per share. This compares to earnings of $2.39 per share a year ago.
Although the revenue and EPS for Western Alliance (WAL) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Shares of Western Alliance Bancorp. WAL, +8.13% dropped more than 5% in the extended session Tuesday after the Phoenix bank narrowly missed quarterly per-share earnings expectations but assured investors it had bolstered its liquidity.
Western Alliance Bancorporation is set to release its Q2 earnings report on July 18th, with key metrics to watch including deposits, asset rebalancing, and net interest margin (NIM). Analysts' projections for WAL's Q2 2023 results suggest a contraction in sales by about 4.3%, and in EPS by about 18%. Heading into Q2, I expect no negative surprises concerning the company's liquidity and solvency. However, there might be challenges in terms of NIM and earnings.
PHOENIX--(BUSINESS WIRE)--Western Alliance Bancorporation Announces Second Quarter 2023 Earnings Release Date, Conference Call and Webcast.
JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. kick off second-quarter earnings season Friday after one of the choppiest three-month periods for the banking sector since the global financial crisis.
This segment originally aired on June 23, 2023. The banking sector is still filling in the cracks left by the collapse of Silicon Valley Bank and other regional banks.