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Western Alliance Bancorporation (WAL) Q1 Earnings Report Preview: What To Look For

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Regional banking company Western Alliance Bancorporation (NYSE: WAL) will be announcing earnings results this Tuesday after the bell. Here’s what investors should know.

Western Alliance Bancorporation beat analysts’ revenue expectations last quarter, reporting revenues of $972.9 million, up 17% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ tangible book value per share estimates.

Is Western Alliance Bancorporation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Western Alliance Bancorporation’s revenue to grow 22.5% year on year, improving from the 6.6% increase it recorded in the same quarter last year.

Western Alliance Bancorporation Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Western Alliance Bancorporation has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Western Alliance Bancorporation’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. BancFirst delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 1%, and KeyCorp reported revenues up 10.2%, topping estimates by 0.7%. BancFirst traded up 3.6% following the results while KeyCorp was also up 1.1%.

Read our full analysis of BancFirst’s results here and KeyCorp’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 9.9% on average over the last month. Western Alliance Bancorporation is up 14.8% during the same time and is heading into earnings with an average analyst price target of $88.53 (compared to the current share price of $79.40).

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