WAL - Western Alliance: Q1 Deposit Growth Is A Cause For Optimism
2024-04-19 05:33:12 ET
Summary
- Shares of Western Alliance Bancorporation have recovered strongly, up 69% from their banking crisis lows a year ago.
- The bank's Q1 earnings report showed adjusted EPS beating consensus by $0.05, aided by steady and sizable deposit gains.
- Despite some pressures on expenses and credit quality, WAL's strong balance sheet and growth potential make it an attractive investment.
Shares of Western Alliance Bancorporation ( WAL ) have recovered strongly from their banking crisis lows of a year ago, up about 69%. Shares though did fall about 1% on Thursday after-hours in the wake of its Q1 earnings report, likely in part due to some profit taking. Since recommending shares as a buy in October , WAL has returned 37%, doubling the S&P 500's return. Given this strong rally and with new financial results in hand, now is an opportune time to re-evaluate WAL. I remain bullish....
Western Alliance: Q1 Deposit Growth Is A Cause For Optimism