Western Alliance Bancorporation (WAL) Stock Overview
Operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 5/6 |
| Dividends | 3/6 |
Rewards
Risk Analysis
No risks detected for WAL from our risk checks.
WAL Community Fair Values
Create NarrativeSee what 51 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Western Alliance Bancorporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$79.65 |
| 52 Week High | US$97.23 |
| 52 Week Low | US$65.82 |
| Beta | 1.36 |
| 1 Month Change | -1.42% |
| 3 Month Change | -2.20% |
| 1 Year Change | 10.00% |
| 3 Year Change | 109.88% |
| 5 Year Change | -22.11% |
| Change since IPO | 213.58% |
Recent News & Updates
Narrative Update • May 16
WAL: Credit Reset And Risk Controls At Tangible Book Will Support Future Returns
Analysts have trimmed their blended price target for Western Alliance Bancorporation by about $0.27 to $88.93 as they factor in slightly higher discount rates, modestly adjusted profitability assumptions, and recent shifts in capital return expectations, including share repurchase plans. Analyst Commentary Recent research updates on Western Alliance Bancorporation highlight a mix of optimism around earnings power and concern around credit events, capital deployment, and investor confidence.Seeking Alpha • May 13
Western Alliance: High Margin Of Safety
Summary Western Alliance Bancorporation remains a Buy despite a Q1 earnings hit from a $126.4M charge-off tied to a Leucadia Asset Management loan. WAL's core lending portfolio continues robust growth, with loans up 8% year-over-year to $59.1B, and net interest margin rising to 3.54%. Western Alliance said last week that a $99M loan was non-performing, raising concerns about asset quality. However, WAL's Q1 adjusted net charge-off ratio didn't show a major structural quality deterioration. WAL stock trades at an 8.1X forward P/E, a 22% discount to regional peers, with an estimated fair value of $84 per share offering 8% upside. Short-term sentiment is pressured by non-recurring loan write-offs, but WAL's asset quality, C&I loan expansion, and net interest income growth support a bullish thesis. Read the full article on Seeking AlphaNarrative Update • Apr 27
WAL: Credit Reset And Tangible Book Entry Point Will Support Future Returns
Western Alliance Bancorporation’s updated analyst price target has moved slightly higher to $89.20, reflecting analysts’ mixed revisions that weigh recent credit concerns against revised growth, margin and P/E assumptions. Analyst Commentary Recent research on Western Alliance Bancorporation reflects a split view, with several firms reducing price targets or ratings while others see potential value after the recent credit events and stock move.Recent updates
Narrative Update • May 16
WAL: Credit Reset And Risk Controls At Tangible Book Will Support Future Returns
Analysts have trimmed their blended price target for Western Alliance Bancorporation by about $0.27 to $88.93 as they factor in slightly higher discount rates, modestly adjusted profitability assumptions, and recent shifts in capital return expectations, including share repurchase plans. Analyst Commentary Recent research updates on Western Alliance Bancorporation highlight a mix of optimism around earnings power and concern around credit events, capital deployment, and investor confidence.Seeking Alpha • May 13
Western Alliance: High Margin Of Safety
Summary Western Alliance Bancorporation remains a Buy despite a Q1 earnings hit from a $126.4M charge-off tied to a Leucadia Asset Management loan. WAL's core lending portfolio continues robust growth, with loans up 8% year-over-year to $59.1B, and net interest margin rising to 3.54%. Western Alliance said last week that a $99M loan was non-performing, raising concerns about asset quality. However, WAL's Q1 adjusted net charge-off ratio didn't show a major structural quality deterioration. WAL stock trades at an 8.1X forward P/E, a 22% discount to regional peers, with an estimated fair value of $84 per share offering 8% upside. Short-term sentiment is pressured by non-recurring loan write-offs, but WAL's asset quality, C&I loan expansion, and net interest income growth support a bullish thesis. Read the full article on Seeking AlphaNarrative Update • Apr 27
WAL: Credit Reset And Tangible Book Entry Point Will Support Future Returns
Western Alliance Bancorporation’s updated analyst price target has moved slightly higher to $89.20, reflecting analysts’ mixed revisions that weigh recent credit concerns against revised growth, margin and P/E assumptions. Analyst Commentary Recent research on Western Alliance Bancorporation reflects a split view, with several firms reducing price targets or ratings while others see potential value after the recent credit events and stock move.Narrative Update • Apr 12
WAL: Credit Reset And Tangible Book Valuation Will Support Future Earnings Power
Analysts have trimmed the fair value estimate for Western Alliance Bancorporation from about $96.40 to roughly $88.53, reflecting a series of reduced price targets that factor in recent credit events, updated earnings assumptions, and a lower future P/E multiple around 8x. Analyst Commentary Recent research on Western Alliance Bancorporation has become more cautious overall, with several firms cutting price targets and updating ratings after the bank's recent credit events and related write offs.Narrative Update • Mar 27
WAL: Credit Reset And Share Repurchases Will Support Future Earnings Power
Analysts have trimmed the Western Alliance Bancorporation fair value estimate by about $2 to $96.40, reflecting recent reductions in Street price targets tied to higher perceived credit risk after the $126m charge-off and related loan issues, partly offset by some firms still highlighting valuation support at current P/E multiples. Analyst Commentary Street research on Western Alliance Bancorporation has shifted meaningfully following the recent $126m charge off and related loan developments, with price targets moving lower but views divided on whether current levels reflect sufficient compensation for the perceived credit risk.Narrative Update • Mar 12
WAL: Credit Reset And Buybacks Will Support Future Earnings Power
Analysts have trimmed their Western Alliance Bancorporation price targets, with our fair value estimate moving about $4 lower to $98.50 as they factor in recent credit events, higher charge-offs such as the $126M Point Bonita and related write-offs, and a lower applied P/E multiple to reflect heightened sensitivity to credit risk. Analyst Commentary Street research on Western Alliance Bancorporation has shifted meaningfully in recent weeks, with several firms revising ratings and price targets as they incorporate the $126M Point Bonita charge-off, other credit headlines, and updated earnings assumptions.Narrative Update • Feb 26
WAL: Steeper Yield Curve And Buybacks Will Support Future Earnings Power
Analyst price targets for Western Alliance Bancorporation have seen a mixed reset recently, with trims of $1 to $10 from some firms and modest $3 raises from others, as analysts weigh updated earnings previews, bank sector trends, and the latest outlooks on yield curves, loan growth, and credit conditions. Analyst Commentary Recent research points to a split view on Western Alliance Bancorporation, with some firms trimming price targets and at least one major bank downgrading the stock, while others are still nudging targets higher.Narrative Update • Feb 11
WAL: Steeper Yield Curve And Buybacks Will Face Mixed Credit And Rating Views
Analysts' blended price target for Western Alliance Bancorporation has inched higher to $102.67 from $101.50, reflecting a mix of recent target reductions and increases as they incorporate updated views on growth, margins, and future P/E assumptions. Analyst Commentary Recent research paints a mixed picture around Western Alliance Bancorporation, with optimistic and cautious voices both influencing the latest round of price target tweaks and rating changes.Narrative Update • Jan 28
WAL: Steeper Yield Curve And Buybacks Are Expected To Drive Upside
Narrative Update: Analyst Price Target Change for Western Alliance Bancorporation Analysts have inched their blended price target on Western Alliance Bancorporation higher to about US$101.50. This reflects updated views that modest tweaks to discount rates, revenue growth assumptions, profit margins, and future P/E multiples, alongside recent target moves in the US$98 to US$108 range, better capture current expectations for mid cap banks.Narrative Update • Jan 11
WAL: Future Earnings Power Will Depend On Credit Risk Resolution
Analysts have trimmed their blended fair value estimate for Western Alliance Bancorporation slightly to US$101.50 from about US$102.06. This reflects modest tweaks to discount rate, revenue growth, profit margin and future P/E assumptions informed by recent target adjustments and commentary around credit risk, valuation gaps, and mid cap bank fundamentals.Narrative Update • Oct 24
Interest Rate Shifts And Legal Uncertainty Will Shape Banking Outlook
Analysts have slightly reduced the fair value price target for Western Alliance Bancorporation from $102.38 to $102.06. This revision reflects updated credit outlooks and a more tempered forecast for revenue growth, despite generally positive recent performance indicators.Narrative Update • Oct 10
Sun Belt Banking And Digital Trends Will Drive Future Performance
Analysts have raised their fair value estimate for Western Alliance Bancorporation from $100.13 to $102.38 per share. This adjustment reflects recent changes to profit margins, revenue growth expectations, and updated insights from Street research regarding exposure risks and potential industry catalysts.Narrative Update • Sep 26
Sun Belt Banking And Digital Trends Will Drive Future Performance
Analysts have raised their price target for Western Alliance Bancorporation, citing anticipated Fed rate cuts, improved loan growth, reduced regulatory risks, and a more favorable economic outlook—resulting in a consensus fair value increase from $97.80 to $100.12. Analyst Commentary Anticipation of upcoming Federal Reserve interest rate cuts expected to act as positive catalysts for regional bank valuations.Narrative Update • Sep 04
Sun Belt Banking And Digital Trends Will Drive Future Performance
Analysts maintain a positive outlook on Western Alliance Bancorporation due to anticipated Fed rate cuts, sector loan growth, M&A activity, and improved economic and regulatory environments, with the consensus price target unchanged at $96.80. Analyst Commentary Expectations of upcoming Federal Reserve interest rate cuts serving as positive catalysts for regional bank valuations.Seeking Alpha • Apr 22
Western Alliance: Mortgage Headwinds And Credit Cracks Appear In A Mixed Q1
Summary Western Alliance faces significant challenges, including a 35% stock decline in 2025, mixed earnings, and a cautious outlook due to economic and mortgage market weaknesses. WAL's financials show some strengths, like deposit growth and stable capital, but potentially higher provisions and credit risks, especially in commercial real estate, are concerning. The company’s net interest income and margins are under pressure due to falling asset yields, and its mortgage servicing business faces headwinds from a weak housing market. Despite a cheap valuation at 8x earnings, I maintain a "hold" rating, preferring other regional bank stocks for recovery plays due to WAL's risks and uncertain environment. Read the full article on Seeking AlphaSeeking Alpha • Apr 14
Western Alliance Bank Shines On Margins, While Loan Chargeoffs May Cloud The Sky
Summary Western Alliance Bancorp, a Phoenix-based regional bank, and parent of Western Alliance Bank, gets a buy rating for my initial coverage. I liked their 2024 loan growth and business segment penetration, solid margins, return on equity, and recent Fitch rating upgrade. Appearing very undervalued now, I gave this stock a 3-year price target of $82.22 (Dec. 2027), so currently it presents an undervaluation opportunity. Some negatives are a weaker historic 10 year performance vs the S&P500, sector competition from big banks, and cyber incident risk. Recent public policy over tariffs have lead to mixed sentiments about recession risk, so I did not see it as a major downside factor right now. Read the full article on Seeking AlphaSeeking Alpha • Jan 28
Western Alliance: Mortgage Exposure And Credit Concerns Dent The Bull Case (Downgrade)
Summary Western Alliance shares have rebounded strongly, nearing a 52-week-high, but the recent modest earnings beat suggests limited upside, prompting a move to "hold." The bank's Q4 earnings were driven by a lower tax rate, with total deposits up 20% year-over-year despite seasonal mortgage warehouse declines. Credit quality has deteriorated slightly, with increased provisions for credit losses and a rise in nonperforming loans, particularly in commercial real estate where its office exposure is a concern. Despite strong capital positions and diversified operations, potential headwinds in mortgage volumes and credit costs suggest shares will remain in the $90-$95 range. Read the full article on Seeking AlphaSeeking Alpha • Dec 10
Western Alliance Bancorporation Appears Undervalued With A Rosy Earnings Outlook
Summary Rate cuts will boost mortgage demand and lift mortgage banking revenue. However, rate cuts will likely also pressure the net interest margin. The housing markets and low borrowing costs bode well for loan growth. However, the job markets in WAL’s main states are struggling, which bodes ill. I’m estimating an EPS of $6.88 for 2024 (up 5%) and $8.10 for 2025 (up 18%). A potential price upside of 14.8% and a dividend yield of 1.7% give a total expected return of 16.5%. Read the full article on Seeking AlphaSeeking Alpha • Sep 11
Western Alliance: Further Upside After S&P 400 Inclusion
Summary Western Alliance Bancorp has rebounded strongly, with shares up 67% over the past year, driven by improved balance sheet flexibility and high-quality deposit growth. Western Alliance's net interest margins have improved due to a favorable liability mix and potential for further optimization of its interest-earning asset base. The bank's credit quality remains strong with limited consumer credit exposure and a well-capitalized position, despite a slight increase in provisions. WAL's inclusion in the S&P 400 midcap index and strong earnings growth potential suggest a 20% upside, making it an attractive buy. Read the full article on Seeking Alpha
New Narrative • Aug 27
A Strategy For Sustained Growth In The Banking Sector
Strategic emphasis on high-quality C&I loans shows a commitment to enhanced earnings with lower risk, implying better net margins.Seeking Alpha • Jul 23
Western Alliance: A Flawless Quarterly From Multiple Perspectives
Summary WAL has outperformed the S&P 500 by 22% since my last buy rating. Loan portfolio and non-interest-bearing deposits grew in Q2 2024, leading to improved profitability. Further price appreciation is expected due to growth drivers, low P/TBV per share compared to historical values. Read the full article on Seeking AlphaSeeking Alpha • Apr 26
Western Alliance: Solid Growth And Cheap Valuation (Rating Upgrade)
Summary Western Alliance Bancorporation reported better-than-expected earnings for Q1'24. Strong net interest income results drove the bank's earnings. Deposit balance increased by almost 31%, and high-cost borrowings declined by 61%. The valuation has become more attractive again lately as well. Read the full article on Seeking AlphaSeeking Alpha • Apr 19
Western Alliance: Q1 Deposit Growth Is A Cause For Optimism
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. Read the full article on Seeking AlphaSeeking Alpha • Jan 31
Western Alliance: Limited Upside In 2024 (Rating Downgrade)
Summary Western Alliance Bancorporation underperformed estimates in Q4 but nonetheless saw deposit gains and declining short-term borrowings. WAL's earnings were negatively affected due to an FDIC charge that is non-recurring. The bank's net interest income grew Q/Q. Despite positive trends in the business, shares are now fairly valued, in my opinion. Read the full article on Seeking AlphaShareholder Returns
| WAL | US Banks | US Market | |
|---|---|---|---|
| 7D | 1.3% | -0.4% | 1.6% |
| 1Y | 10.0% | 19.4% | 28.5% |
Return vs Industry: WAL underperformed the US Banks industry which returned 19.4% over the past year.
Return vs Market: WAL underperformed the US Market which returned 28.6% over the past year.
Price Volatility
| WAL volatility | |
|---|---|
| WAL Average Weekly Movement | 5.0% |
| Banks Industry Average Movement | 3.2% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 3.0% |
Stable Share Price: WAL has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: WAL's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1994 | 3,769 | Ken Vecchione | www.westernalliancebancorporation.com |
Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including demand deposit, checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors; and residential mortgage products and services.
Western Alliance Bancorporation Fundamentals Summary
| WAL fundamental statistics | |
|---|---|
| Market cap | US$8.59b |
| Earnings (TTM) | US$939.20m |
| Revenue (TTM) | US$3.38b |
9.1x
P/E Ratio1.2x
P/B RatioIs WAL overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| WAL income statement (TTM) | |
|---|---|
| Revenue | US$3.38b |
| Cost of Revenue | US$0 |
| Gross Profit | US$3.38b |
| Other Expenses | US$2.44b |
| Earnings | US$939.20m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 8.71 |
| Gross Margin | 100.00% |
| Net Profit Margin | 27.81% |
| Debt/Equity Ratio | 85.0% |
How did WAL perform over the long term?
See historical performance and comparisonDividends
2.1%
Current Dividend Yield19%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/31 16:35 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Western Alliance Bancorporation is covered by 33 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jared David Shaw | Barclays |
| Ebrahim Poonawala | BofA Global Research |
| Michael Diana | Cantor Fitzgerald & Co. |