Western Alliance Stock Dips After Q3 Results: Here's Why
Portfolio Pulse from Erica Kollmann
Western Alliance Bancorporation (NYSE:WAL) shares fell after reporting Q3 earnings of $1.80 per share, missing the $1.89 estimate, despite revenue beating expectations at $823.1 million. Net interest income rose, but net interest margin decreased. Shares dropped 5.24% after-hours.
October 17, 2024 | 9:14 pm
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Western Alliance's Q3 earnings missed estimates at $1.80 per share, causing a 5.24% drop in share price. Revenue exceeded expectations, but net interest margin decreased.
The earnings per share missed analyst expectations, which is a key metric for investors, leading to a negative market reaction. Despite revenue beating estimates, the decrease in net interest margin and the earnings miss overshadowed the positive aspects, resulting in a 5.24% drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100