Western Alliance Bancorporation (WAL) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.60 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.56. The company posted revenue of $157.80 million in the period, compared to analysts expectations of $159.04 million. The company’s revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.
Many Wall Street Analysts have commented on Western Alliance Bancorporation. Western Alliance Bancorporation was Upgraded by Keefe Bruyette to ” Outperform” on Mar 30, 2016. DA Davidson Upgraded Western Alliance Bancorporation on Feb 11, 2016 to ” Buy”, Price Target of the shares are set at $37.
Western Alliance Bancorporation opened for trading at $34.94 and hit $35.69 on the upside on Monday, eventually ending the session at $35.69, with a gain of 1.19% or 0.42 points. The heightened volatility saw the trading volume jump to 5,82,301 shares. Company has a market cap of $3,691 M.
In a different news, on Feb 19, 2016, J. Kelly Jr. Ardrey (SVP, Chief Accounting Officer) sold 1,121 shares at $30.00 per share price. According to the SEC, on Feb 19, 2016, Robert Reoch Mcauslan (EVP, Chief Credit Officer) sold 2,000 shares at $30.00 per share price. On Feb 4, 2016, Randall S Theisen (EVP, General Counsel) sold 4,094 shares at $31.68 per share price, according to the Form-4 filing with the securities and exchange commission.
Western Alliance Bancorporation (WAL) is a bank holding company. The Company provides a range of deposits lending treasury management and online banking products and services through its banking subsidiary Western Alliance Bank (the Bank). The Company’s segments are Arizona Nevada Southern California Northern California Central Business Line (CBL) and Corporate & Other. Its Arizona Nevada and California segments provide full-service banking and related services to their respective markets. It provides a range of financial services to customers including commercial real estate (CRE) loans construction and land development loans commercial loans and consumer loans through the Bank and its banking divisions and operating subsidiaries. It offers a range of deposit products including checking accounts money market accounts and other types of deposit accounts such as fixed-rate and fixed maturity retail certificates of deposit.