Overview

* Western Alliance Q3 net income rises 30.4% yr/yr to $260.5 mln

* Earnings per share for Q3 increases 26.7% yr/yr to $2.28

* Company's total deposits grow 13.5% yr/yr to $77.2 bln

Outlook

* Company did not provide specific guidance for future quarters or full year in press release

Result Drivers

* NET INTEREST INCOME - Growth driven by higher average interest-earning asset balances, partially offset by increased deposit balances

* NON-INTEREST INCOME - Increase driven by gains in mortgage loan origination and sale activities

* DEPOSIT GROWTH - Total deposits increased by $6.1 bln, contributing to asset growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $2.28

Q3 Net $260.50

Income mln

Q3 Net $750.40

Interest mln

Income

Q3 -$80 mln

Credit

Loss

Provisio

n

Q3 Net 3.53%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Western Alliance Bancorp ( WAL ) is $100.00, about 24.6% above its October 20 closing price of $75.40

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)