Western Alliance Bancorporation (WAL) Tops Q1 EPS by 43c
- S&P 500 flat as telecom weakness offsets strong retail earnings
- Walmart (WMT) Gains After Crushing Estimates, Analysts Bulled Up on 'Strong Q1 Results'
- Home Depot (HD) Leaps After Topping Q1 Estimates, Analyst Positive
- Tesla (TSLA) Stuck as It Can't Deliver 10,000+ Cars From Its Fremont Factory Amid Supply Chain Issues - Report
- Warren Buffett's Berkshire Hathaway (BRK-A) Now Almost Out of Wells Fargo (WFC), Invests Further into Verizon (VZ) and Kroger (KR), More Selling than Buying Says Analyst
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Western Alliance Bancorporation (NYSE: WAL) reported Q1 EPS of $1.90, $0.43 better than the analyst estimate of $1.47. Revenue for the quarter came in at $337 million versus the consensus estimate of $338.05 million.
“The continued emphasis on Western Alliance\'s growing national commercial business strategy drove key financial performance results and balance sheet growth to quarterly record highs to kick off 2021,” said Kenneth A. Vecchione, President and Chief Executive Officer. “Balance sheet growth continued with loans up $1.7 billion (24.9% annualized), and deposits up $6.5 billion (82.1% annualized), bringing total assets to $43.4 billion at quarter end, an increase of $6.9 billion from year end, further positioning us for swift deployment of excess liquidity to our commercial and consumer-related businesses. Net income of $192.5 million, earnings per share of $1.90 and return on tangible common equity1 of 24.2% for the first quarter 2021 mirrors the Company’s strong fourth quarter performance and confirms that the economic recovery has begun. Asset quality remains stable with nonperforming assets to total assets of 0.27% and annualized net charge-offs to average loans outstanding at a modest 0.02% for the quarter. Lastly, we were pleased to complete the AmeriHome acquisition ahead of schedule and welcome their team into the WAL family.”
For earnings history and earnings-related data on Western Alliance Bancorporation (WAL) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Eagle Point Credit (ECC) Tops Q1 EPS by 2c
- Accenture (ACN) Acquires Strategic Management Consultancy Homburg & Partner
- INVO Bioscience (INVO) Misses Q1 EPS by 8c, Revenues Beat
Create E-mail Alert Related CategoriesCorporate News, Earnings, Management Comments
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!