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Last $33.84 USD
Change Today +0.32 / 0.95%
Volume 456.4K
WAL On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

western alliance bancorp (WAL) Key Developments

Western Alliance Bancorporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Western Alliance Bancorporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of $116,618,000 compared to $101,973,000 a year ago. Net interest income was $108,718,000 compared to $93,898,000 a year ago. Income from continuing operations before income taxes was $45,318,000 compared to $46,748,000 a year ago. Net income available to common stockholders was $34,472,000 or $0.39 per diluted share compared to $35,186,000 or $0.40 per diluted share a year ago. Return on average assets was 1.24% compared to 1.46% a year ago. Return on average tangible common equity was 14.10% compared to 18.62% a year ago. For the six months period, the company reported total interest income of $227,580,000 compared to $200,674,000 a year ago. Net interest income was $211,826,000 compared to $184,675,000 a year ago. Income from continuing operations before income taxes was $99,626,000 compared to $89,111,000 a year ago. Net income available to common stockholders was $74,486,000 or $0.84 per diluted share compared to $65,918,000 or $0.76 per diluted share a year ago. Tangible book value per share, net of tax, of $11.25, an increase of 4.9% from $10.72 at March 31, 2015, and an increase of 24.7% from $9.02 at June 30, 2014. Return on average assets was 1.37% compared to 1.39% a year ago. Return on average tangible common equity was 15.61% compared to 17.98 % a year ago.

Western Alliance Bancorporation to Report Q2, 2015 Results on Jul 23, 2015

Western Alliance Bancorporation announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 23, 2015

Western Alliance Bancorporation, Q2 2015 Earnings Call, Jul 27, 2015

Western Alliance Bancorporation, Q2 2015 Earnings Call, Jul 27, 2015

Western Alliance Bancorporation Appoints Robert P. Latta to the Board

On June 22, 2015, Western Alliance Bancorporation and Bridge Capital Holdings entered into a letter agreement modifying the Agreement and Plan of Merger, dated as of March 9, 2015, by and between WAL and Bridge, pursuant to which Bridge will merge with and into WAL with WAL surviving. On June 19, 2015, in connection with the Merger, the WAL Board expanded the size of the WAL Board by one seat and appointed Robert P. Latta to the WAL Board, in each case subject to the closing of the Merger and effective as of the first regularly scheduled meeting of the WAL Board occurring after the closing of the Merger.

Western Alliance Bancorporation Approves Amendments to Certificate of Incorporation

Western Alliance Bancorporation announced that at its annual meeting of stockholders held on May 19, 2015, its shareholders approved amendments to the company's Certificate of Incorporation to provide (i) for the phased-in declassification of the board of directors culminating in the annual election of all directors, (ii) stockholders with the ability to remove directors not subject to classification without cause, and (iii) stockholders holding, collectively, no less than 40% of issued and outstanding shares of the company's common stock the right to call a special meeting of stockholders, subject to certain requirements.

 

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Industry Analysis

WAL

Industry Average

Valuation WAL Industry Range
Price/Earnings 19.1x
Price/Sales 6.9x
Price/Book 2.0x
Price/Cash Flow 21.9x
TEV/Sales 5.3x
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