Western Alliance Bancorporation
- Open
- 83.13
- Day high
- 83.61
- Day low
- 81.70
- Prev close
- 82.97
- Volume
- 754K
- Mkt cap
- $9.1B
- P/E (TTM)
- 9.2
- EPS (TTM)
- $9.00
- P/B
- 1.2
- P/S
- 2.0
- Yield
- 1.01%
- Per share
- $0.84
- ▼Insiders net selling -$3.8M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Western Alliance Bancorporation (WAL) is a Financial Services company listed on NYSE. The stock is up 1% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Western Alliance Bancorporation (WAL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WAL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 22, 2026 | $2.36 | $2.36 | +0.0% | $1.0B | +2.3% |
| Apr 22, 2026 | $1.48 | $2.22 | +50.0% | $1.0B | +6.3% |
| Jan 26, 2026 | $2.40 | $2.59 | +7.9% | $955M | +4.5% |
| Oct 21, 2025 | $2.08 | $2.28 | +9.6% | $923M | +3.9% |
| Jul 17, 2025 | $2.02 | $2.07 | +2.5% | $846M | +0.9% |
| Jan 27, 2025 | $1.92 | $1.95 | +1.6% | $836M | +3.9% |
| Oct 17, 2024 | $1.89 | $1.80 | -4.8% | $823M | +1.8% |
| Jul 18, 2024 | $1.71 | $1.75 | +2.3% | $774M | +4.9% |
| Apr 18, 2024 | $1.66 | $1.60 | -3.6% | $729M | +3.2% |
| Jan 25, 2024 | $1.93 | $1.91 | -1.0% | $685M | -2.1% |
| Oct 19, 2023 | $1.91 | $1.84 | -3.7% | $720M | +5.2% |
| Jul 18, 2023 | $1.98 | $1.96 | -1.0% | $668M | +2.3% |
WAL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 17, 2026 | Bruckner Tim Rofficer: CBO for Regional Banking | Option | 158 | — |
| Jul 17, 2026 | Herndon Lynneofficer: Chief Credit Officer | Option | 22 | — |
| Jul 17, 2026 | Herndon Lynneofficer: Chief Credit Officer | Option | 27 | — |
| Jul 17, 2026 | Vecchione Kennethdirector, officer: Chairman, President & CEO | Option | 595 | — |
| Jul 17, 2026 | Nachlas Emilyofficer: Chief Risk Officer | Option | 72 | — |
| Jul 17, 2026 | Bruckner Tim Rofficer: CBO for Regional Banking | Option | 115 | — |
| Jul 17, 2026 | Jarvi Jessica Hofficer: CLO & Secretary | Option | 58 | — |
| Jul 17, 2026 | Jarvi Jessica Hofficer: CLO & Secretary | Option | 64 | — |
| Jul 17, 2026 | Jarvi Jessica Hofficer: CLO & Secretary | Option | 46 | — |
| Jul 17, 2026 | GIBBONS DALEofficer: Vice Chair and CBO, Deposits | Option | 212 | — |
| Jul 17, 2026 | Boothe Timothy Wofficer: Chief Administration Officer | Option | 97 | — |
| Jul 17, 2026 | Herndon Lynneofficer: Chief Credit Officer | Option | 35 | — |
| Jul 17, 2026 | GIBBONS DALEofficer: Vice Chair and CBO, Deposits | Option | 285 | — |
| Jul 17, 2026 | Nachlas Emilyofficer: Chief Risk Officer | Option | 53 | — |
| Jul 17, 2026 | Kennedy Barbaraofficer: Chief Human Resources Officer | Option | 82 | — |
Source: WAL SEC Form 4 filings, latest Jul 17, 2026. For informational purposes only — not investment advice.
See the full WAL insider & 13F page →Western Alliance Bancorporation company profile
Overview
Western Alliance Bancorporation (NYSE:WAL) is a Phoenix-based bank holding company founded in 1994 that operates primarily through its subsidiary Western Alliance Bank. The company has grown from a regional Arizona bank to a significant multi-state financial institution serving Arizona, California, and Nevada markets. Western Alliance went public in 2005 and has positioned itself as a specialized commercial bank focused on serving business clients and providing niche banking services. The bank operates 36 branch locations along with loan production offices and has built a reputation for strong growth and credit quality management.
Business
Western Alliance Bancorporation operates as a regional bank holding company in the financial services sector, providing traditional banking products and specialized financial services primarily to commercial clients across the southwestern United States. The company operates through three main business segments that generate revenue through different banking activities. The Commercial segment represents the core of Western Alliance's business, focusing on commercial and industrial (C&I) lending, commercial real estate financing, and construction loans. C&I loans, which include working capital lines of credit, equipment financing, and loans to technology companies, now comprise approximately 43% of the loan portfolio. Commercial real estate loans are secured by various property types including multi-family residential buildings, office complexes, retail centers, and hotels. This segment also provides treasury management services to business clients. The Consumer Related segment offers residential mortgage products, consumer loans, and deposit services to individual customers. This includes traditional checking and savings accounts, money market accounts, and certificates of deposit. The company also operates a mortgage banking division that originates and sells residential mortgages, generating fee income through loan origination and servicing. The Corporate & Other segment encompasses specialized banking services that differentiate Western Alliance from traditional regional banks. This includes homeowners association (HOA) banking services, corporate trust services, business escrow services, and warehouse lending for mortgage companies. The company has also developed digital banking platforms and maintains investment portfolios in areas like low-income housing tax credits and small business investment corporations. Western Alliance has strategically built several niche banking franchises that provide stable deposit funding, including escrow services for real estate transactions, HOA management services, and specialized lending platforms. These specialized services help the bank maintain diversified revenue streams beyond traditional commercial lending.
Revenue model
Western Alliance generates revenue through multiple banking business models typical of regional commercial banks. The primary revenue source is net interest income, which comes from the spread between interest earned on loans and investments versus interest paid on deposits and borrowings. This represents the majority of the bank's revenue, with net interest income of approximately $651 million in Q1 2025. The bank's loan portfolio generates interest income from several categories: commercial and industrial loans (43% of portfolio), commercial real estate loans (27%), construction and development loans, and residential/consumer loans (26%). Loan yields vary by category, with C&I loans typically providing higher returns but requiring more active management. Fee-based income represents the second major revenue stream, generated through various non-interest services. This includes mortgage banking revenues from loan origination and sales, treasury management fees, wire transfer fees, and other banking service charges. The mortgage banking division generates income through gain-on-sale margins when selling originated loans to secondary markets. The bank's specialized service platforms provide additional fee income streams. HOA banking services generate fees for managing homeowners association accounts and payments. Business escrow services earn fees for handling real estate transaction deposits. Corporate trust services provide fiduciary and administrative services for institutional clients. Several factors influence Western Alliance's profitability margins. Interest rate environment significantly impacts net interest margins, with the bank being liability-sensitive, meaning falling rates generally benefit profitability as deposit costs decline faster than loan yields. Credit quality affects margins through provision expenses, with the bank maintaining historically low charge-off rates around 15-20 basis points. Deposit composition and cost directly impact funding costs, with the bank's specialized deposit platforms helping provide lower-cost, stickier funding sources. Loan mix optimization allows the bank to focus on higher-yielding, lower-risk loan categories like warehouse lending and asset-based lending. Regulatory compliance costs represent a growing expense as the bank approaches $100 billion in assets, requiring investments in risk management and reporting systems.
Risks & safety
Western Alliance demonstrates a moderate margin of safety with solid fundamentals but some concerns around rapid growth and interest rate sensitivity. **Liquidity and Solvency:** - Strong cash position with $3.3 billion in cash and short-term investments as of Q1 2025 - Total assets of $83 billion with shareholders' equity of $7.2 billion - Debt-to-equity ratio of effectively zero, indicating minimal leverage beyond normal banking operations - High-quality liquid assets comprise 53% of total assets, providing substantial liquidity buffer **Valuation Metrics:** - Price-to-earnings ratio of 10.5x, reasonable for a regional bank - Price-to-book ratio of 1.21x, slightly above book value but not excessive - Return on equity of 11.7% for 2024, indicating efficient capital utilization - Tangible book value provides downside protection **Credit and Operational Risks:** - Net charge-offs running at historically low 15-20 basis points - Allowance for credit losses appears adequate based on management's conservative methodology - Strong capital ratios with CET1 at approximately 11.3% - Approaching $100 billion asset threshold will trigger higher regulatory costs and requirements **Other Considerations:** - Liability-sensitive balance sheet creates earnings volatility in changing rate environments - Geographic concentration in Western U.S. real estate markets adds cyclical risk - Rapid growth trajectory requires careful credit management and operational scaling
Recent development
Over the past several years, Western Alliance has undergone significant strategic transformation focused on balance sheet optimization and preparing for enhanced regulatory requirements. The bank completed a major balance sheet repositioning in 2024, building substantial liquidity reserves and shifting loan portfolio composition away from higher-risk categories toward commercial and industrial lending. The company has strategically diversified its loan portfolio, increasing C&I loans from 38% to 43% of total loans while reducing construction and residential lending exposure. This shift reflects management's focus on loan categories with historically lower loss rates and better risk-adjusted returns. Warehouse lending for mortgage companies has become a significant growth area, providing both loan growth and deposit relationships. Deposit platform expansion has been a key strategic initiative, with the bank launching multiple specialized deposit channels including business escrow services, corporate trust services, and digital consumer banking platforms. These initiatives helped drive $14 billion in deposit growth in 2024, providing stable, lower-cost funding sources and reducing reliance on more volatile deposit categories. The bank has made substantial investments in regulatory preparedness as it approaches the $100 billion asset threshold that triggers Large Financial Institution (LFI) requirements. Management expects to invest $55-65 million in enhanced risk management systems, stress testing capabilities, and regulatory reporting infrastructure. This preparation includes upgrading technology systems and adding specialized personnel. Capital management strategy has evolved to prioritize organic growth over shareholder returns, with the bank maintaining CET1 ratios above 11% and reducing share buyback activity. Management has indicated they will focus capital deployment on supporting loan growth rather than returning capital to shareholders in the near term. The company has also enhanced its credit risk management capabilities, implementing more sophisticated early warning systems and taking a proactive approach to managing potential problem loans. This includes regular stress testing of the commercial real estate portfolio and maintaining conservative underwriting standards despite competitive pressures.
WAL company profile · for informational purposes only — not investment advice.
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