Western Alliance Posts Q3 Earnings Miss, Why 5 Analysts Are Still Bullish
Portfolio Pulse from Priya Nigam
Western Alliance Bancorporation (NYSE:WAL) reported mixed Q3 earnings, missing EPS expectations but beating revenue forecasts. Despite the earnings miss, several analysts remain bullish, maintaining positive ratings and price targets. The company faces challenges with higher ECR costs and slower loan growth but expects improvements in the next quarter.
October 18, 2024 | 3:02 pm
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Western Alliance Bancorporation reported Q3 earnings of $1.80 per share, missing expectations, but revenues beat forecasts. Analysts maintain positive ratings, citing potential cost reductions and revenue growth.
Despite missing EPS expectations, Western Alliance's revenue beat and analysts' maintained positive ratings suggest a neutral short-term impact. The company's guidance indicates potential cost reductions, which could offset current challenges.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100