Western Alliance Bancorporation (NYSE:WAL) is expected to report second quarter earnings results, after market close, on Thursday 16th July 2020.
Analysts polled by Thomson Reuters anticipate second quarter income of $ 0.78 per share.
Looking ahead, the full year income are expected at $ 3.58 per share on the revenues of $ 1231.28 million.
Previous Quarter Performance
Western Alliance Bancorporation communicated income for the first quarter of $ 0.83 per share, from the revenue of $ 274.13 million. The quarterly earnings declined 28.45 percent while revenues grew 4.33 percent compared with the same quarter last year.
According to street consensus, WAL was expected to report 1Q20 income of $ 0.71 per share from revenue of $ 286.56 million. The bottom line results beat street analysts by $ 0.12 or 16.90 percent, at the same time, top line results fell short of analysts by $ 12.43 million or 4.34 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of WAL was $ 29.27, representing a 40.05 % increase from the 52 week low of $ 20.90 and a 50.34 % decrease over the 52 week high of $ 58.94.
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Recent Analyst recommendations
On 18th June 2020, downgraded by Citigroup to Neutral from Buy rating, with $ 44.00 target price.
On 2nd June 2020, downgraded by Wells Fargo & Co to Equal-Weight from Overweight rating.
On 19th May 2020, maintained by SunTrust Robinson Humphrey at Buy rating, with $ 37.00 target price.
Recent Stock Dividend Announcement
On April 28, 2020, the board of directors authorized quarterly dividend of $ 0.25 per share to holders of record as of the close of business on May 15, 2020, with payment date of May 29, 2020 and ex-dividend date on May 14, 2020.
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts. It also offers commercial and industrial loan products, such as working capital lines of credit, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans.
