Western Alliance Stock Gains Following Q3 Earnings Beat - Here's A Look

Western Alliance Bancorporation WAL shares are trading higher in Thursday's after-hours session following the company's third-quarter earnings.

What To Know: Western Alliance reported quarterly earnings of $1.97 per share, which beat the analyst consensus estimate of $1.90, an 18.6% decrease over earnings of $2.42 per share from last year.

The company reported quarterly sales of $716.20 million, which beat the analyst consensus estimate of $676.46 million, a 7.88% increase over sales of $663.90 million in the same period last year.

Additionally, Western Alliance Bancorporation reported total deposits of $54.3 billion, up 6.4% year-over-year.

"Western Alliance continued to execute its balance sheet repositioning strategy and produced strengthening profitability in the third quarter, highlighted by net interest income growth and net interest margin expansion, while maintaining stable asset quality. Deposit momentum continued to improve liquidity levels and demonstrates the vibrancy of the franchise," said Kenneth A. Vecchione, President and CEO.

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WAL Price Action: Shares of WAL were up 3.08% at $47.50 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by Thomas Breher from Pixabay