Western Alliance: Q1 Earnings Snapshot
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.