Western Alliance Bancorporation Tops Estimates, DA Davidson Raises Price Target to $105

Western Alliance Bancorporation (NYSE:WAL) reported Q4 EPS of $2.59, beating the estimated $2.39 by 8.37%. Revenue exceeded projections at $980.9 million vs $913.4 million. DA Davidson reaffirmed its Buy rating and increased the price target to $105, citing strong top-line revenue growth and efforts to reduce non-performing assets.