Western Alliance: 4Q Earnings Snapshot
PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported fourth-quarter earnings of $119.1 million.
The Phoenix-based bank said it had earnings of $1.13 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The bank holding company posted revenue of $295.6 million in the period. Its revenue net of interest expense was $257.1 million, which also topped Street forecasts. Six analysts surveyed by Zacks expected $255.2 million.
For the year, the company reported profit of $435.8 million, or $4.14 per share. Revenue was reported as $959 million.
Western Alliance shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.74, a drop of 25 percent in the last 12 months.