Piper Jaffray Raises Price Target on Western Alliance Bancorporation (WAL) to $42.50; Reiterates Overweight
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GE Closes Sale of Franchise Finance U.S. Hotel Business to Western Alliance
April 25, 2016 7:00 AM EDTProgress Continues in Effort to Create Smaller, More Focused GE Capital Closings to date reach $148 billion; signings total $166 billion
FAIRFIELD, Conn.--(BUSINESS WIRE)-- GE (NYSE: GE) has completed the previously announced sale of GE Capitals Franchise Finance U.S. hotel business to Western Alliance Bank, a wholly owned subsidiary of Western Alliance Bancorporation (NYSE: WAL). The sale includes approximately $1.3 billion in ending net investment (ENI) and the majority of the hotel business employees. The business... More
Western Alliance Reports Record First Quarter 2016 Financial Performance and Closing of Asset Purchase
April 21, 2016 5:12 PM EDTPHOENIX--(BUSINESS WIRE)-- Western Alliance Bancorporation (NYSE: WAL) (the "Company") announced today its financial results for the first quarter 2016, as well as the closing of the asset purchase transaction with GE Capital US Holdings, Inc. ("GE").
First Quarter 2016 Highlights:
Net income of $61.3 million, compared to $58.5 million for the fourth quarter 2015, and $40.4 million for the first quarter 2015 Earnings per share of $0.60, compared to $0.57 per share in the fourth quarter 2015, and $0.45 per share in the first quarter 2015 Operating pre-provision net revenue of $82.1 million, up 2.7% from... More