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Western Alliance: Q1 Earnings Snapshot

April 15, 2021 GMT

PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported first-quarter net income of $192.5 million.

The bank, based in Phoenix, said it had earnings of $1.90 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.

The bank holding company posted revenue of $353.8 million in the period. Its revenue net of interest expense was $337 million, also beating Street forecasts. Five analysts surveyed by Zacks expected $332.4 million.

Western Alliance shares have climbed 55% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $92.94, more than tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WAL at https://www.zacks.com/ap/WAL