Western Alliance Bancorp (WAL)
Market Price (12/29/2025): $86.47 | Market Cap: $9.4 BilSector: Financials | Industry: Regional Banks
Western Alliance Bancorp (WAL)
Market Price (12/29/2025): $86.47Market Cap: $9.4 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.4% | Weak multi-year price returns2Y Excs Rtn is -7.3%, 3Y Excs Rtn is -18% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -97%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -100% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -119% | Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 9.3% | Key risksWAL key risks include [1] legal challenges from a lawsuit over alleged borrower fraud and accusations of accounting malpractice, Show more. |
| Low stock price volatilityVol 12M is 43% | ||
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Fintech & Digital Payments. Themes include Private Credit, and Online Banking & Lending. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.4% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -119% |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Fintech & Digital Payments. Themes include Private Credit, and Online Banking & Lending. |
| Weak multi-year price returns2Y Excs Rtn is -7.3%, 3Y Excs Rtn is -18% |
| Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 9.3% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -97%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -100% |
| Key risksWAL key risks include [1] legal challenges from a lawsuit over alleged borrower fraud and accusations of accounting malpractice, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. Significant One-Day Stock Price Decrease
On October 17, 2025, Western Alliance Bancorporation's stock price notably decreased by over 10%, falling from $78.84 to $70.32.
2. Credit Concerns and Loan Loss Provisions
In the third quarter of 2025, Western Alliance set aside an $80 million provision for credit losses, which included a $30 million reserve for a $98 million non-accrual loan related to the Cantor Group V. Management described this as an isolated fraud case. This action contributed to broader credit concerns among analysts.
Show more
Stock Movement Drivers
Fundamental Drivers
The -1.4% change in WAL stock from 9/28/2025 to 12/28/2025 was primarily driven by a -7.3% change in the company's P/E Multiple.| 9282025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 87.81 | 86.56 | -1.42% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3212.40 | 3331.20 | 3.70% |
| Net Income Margin (%) | 26.34% | 27.01% | 2.54% |
| P/E Multiple | 11.31 | 10.49 | -7.29% |
| Shares Outstanding (Mil) | 109.00 | 109.00 | 0.00% |
| Cumulative Contribution | -1.42% |
Market Drivers
9/28/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| WAL | -1.4% | |
| Market (SPY) | 4.3% | 40.5% |
| Sector (XLF) | 3.3% | 77.4% |
Fundamental Drivers
The 12.6% change in WAL stock from 6/29/2025 to 12/28/2025 was primarily driven by a 6.0% change in the company's Total Revenues ($ Mil).| 6292025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 76.87 | 86.56 | 12.61% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3141.80 | 3331.20 | 6.03% |
| Net Income Margin (%) | 25.76% | 27.01% | 4.85% |
| P/E Multiple | 10.33 | 10.49 | 1.48% |
| Shares Outstanding (Mil) | 108.80 | 109.00 | -0.18% |
| Cumulative Contribution | 12.61% |
Market Drivers
6/29/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| WAL | 12.6% | |
| Market (SPY) | 12.6% | 45.1% |
| Sector (XLF) | 7.4% | 69.5% |
Fundamental Drivers
The 5.4% change in WAL stock from 12/28/2024 to 12/28/2025 was primarily driven by a 13.3% change in the company's Total Revenues ($ Mil).| 12282024 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 82.12 | 86.56 | 5.41% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2941.40 | 3331.20 | 13.25% |
| Net Income Margin (%) | 24.43% | 27.01% | 10.55% |
| P/E Multiple | 12.42 | 10.49 | -15.57% |
| Shares Outstanding (Mil) | 108.70 | 109.00 | -0.28% |
| Cumulative Contribution | 5.41% |
Market Drivers
12/28/2024 to 12/28/2025| Return | Correlation | |
|---|---|---|
| WAL | 5.4% | |
| Market (SPY) | 17.0% | 66.8% |
| Sector (XLF) | 15.3% | 75.0% |
Fundamental Drivers
The 56.3% change in WAL stock from 12/29/2022 to 12/28/2025 was primarily driven by a 77.9% change in the company's P/E Multiple.| 12292022 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 55.39 | 86.56 | 56.27% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2322.40 | 3331.20 | 43.44% |
| Net Income Margin (%) | 43.50% | 27.01% | -37.91% |
| P/E Multiple | 5.89 | 10.49 | 77.91% |
| Shares Outstanding (Mil) | 107.50 | 109.00 | -1.40% |
| Cumulative Contribution | 56.24% |
Market Drivers
12/29/2023 to 12/28/2025| Return | Correlation | |
|---|---|---|
| WAL | 36.9% | |
| Market (SPY) | 48.4% | 55.4% |
| Sector (XLF) | 51.8% | 69.7% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WAL Return | 8% | 82% | -44% | 14% | 30% | 6% | 72% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| WAL Win Rate | 42% | 58% | 42% | 50% | 50% | 50% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| WAL Max Drawdown | -61% | -2% | -47% | -69% | -15% | -27% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See WAL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | WAL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -85.2% | -25.4% |
| % Gain to Breakeven | 574.6% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -62.0% | -33.9% |
| % Gain to Breakeven | 162.9% | 51.3% |
| Time to Breakeven | 267 days | 148 days |
| 2018 Correction | ||
| % Loss | -40.6% | -19.8% |
| % Gain to Breakeven | 68.5% | 24.7% |
| Time to Breakeven | 744 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -91.4% | -56.8% |
| % Gain to Breakeven | 1068.9% | 131.3% |
| Time to Breakeven | 2,172 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Western Alliance Bancorp's stock fell -85.2% during the 2022 Inflation Shock from a high on 11/3/2021. A -85.2% loss requires a 574.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
AI Analysis | Feedback
```html- A more specialized and high-growth U.S. Bancorp (USB), focused on commercial lending and niche deposits.
- PNC Financial (PNC) with a more aggressive focus on commercial real estate and specialized business banking.
AI Analysis | Feedback
- Deposit Services: Accepting and managing various types of deposits (checking, savings, money market, certificates of deposit) for businesses and individuals.
- Commercial & Industrial (C&I) Loans: Providing credit facilities to businesses for working capital, equipment purchases, expansion, and general corporate purposes.
- Commercial Real Estate (CRE) Loans: Offering financing for the acquisition, development, and refinancing of income-producing properties across various sectors.
- Specialty Lending: Delivering tailored banking and lending solutions to specific industries and client segments, such as mortgage companies, technology firms, homeowner associations, and public finance entities.
- Treasury Management Services: Providing businesses with tools and services to optimize cash flow, manage payments, and mitigate financial risks.
AI Analysis | Feedback
Western Alliance Bancorp (symbol: WAL) is a diversified bank holding company that serves a broad customer base. Due to the confidential nature of banking relationships and the wide variety of businesses and institutions it serves, specific major customer names are not publicly disclosed. However, Western Alliance Bancorp primarily serves other companies and organizations, with its customer base generally categorized as follows:-
Commercial & Specialty Businesses: Western Alliance Bancorp has a strong focus on serving businesses across a multitude of sectors through its specialized divisions. These customers include companies in technology and innovation, gaming, healthcare, public and non-profit finance, real estate, and other industry-specific segments. These entities utilize the bank for tailored lending solutions, deposit services, treasury management, and other commercial banking needs.
-
Mortgage Companies and Financial Institutions: Through its AmeriHome Mortgage division, Western Alliance Bancorp operates as a leading correspondent mortgage lender. In this capacity, its "customers" are primarily other mortgage originators, independent mortgage companies, and financial institutions that sell mortgage loans to AmeriHome, making it a key player in the secondary mortgage market.
-
Homeowners' Associations (HOAs): Western Alliance Bancorp is a significant provider of banking and financial services to Homeowners' Associations across the United States. This includes specialized deposit accounts, lending services, and treasury management solutions designed to meet the unique operational and financial requirements of community associations.
AI Analysis | Feedback
nullAI Analysis | Feedback
Kenneth A. Vecchione President and Chief Executive Officer
Mr. Vecchione has served as President and Chief Executive Officer of Western Alliance Bancorporation since April 2018, having rejoined the company as President in July 2017. He has also been a Director of the company since 2007. Prior to his current role, he held multiple positions within Western Alliance Bank, including non-management Chairman from 2014 to 2015, Vice Chairman of Bank of Nevada from 2010 to 2013, and President and Chief Operating Officer from 2010 to 2013. Earlier in his career, he served as Chief Executive Officer, President, and Director of Encore Capital Group from 2013 to 2017. He also held senior positions at other large financial services companies, including Chief Financial Officer at Apollo Global Management, LLC (a private equity firm) from 2007 to 2010, Executive Vice President and Chief Financial Officer at AT&T Universal Card Services from 1997 to 1998, and various roles at MBNA Corporation, including Vice Chairman and Chief Financial Officer between 1998 and 2006. Mr. Vecchione received an undergraduate degree from the State University of New York at Albany.
Dale Gibbons Vice Chairman and Chief Financial Officer
Mr. Gibbons has been the Chief Financial Officer and Vice Chairman of Western Alliance Bancorporation since 2018, and previously served as Executive Vice President and Chief Financial Officer from May 2003. He is set to transition to the newly created role of Vice Chairman and Chief Banking Officer, Deposit Initiatives and Innovation, effective January 2, 2026. In this new role, he will focus on the company's organic deposit growth initiatives. Before joining Western Alliance, he served as Chief Financial Officer of Zions Bancorporation from 1996 to 2001. He also worked for First Interstate Bancorp in various retail banking and financial management positions from 1979 to 1996. Mr. Gibbons is a CPA and graduated summa cum laude with a B.S. from Arizona State University.
Vishal Idnani Chief Financial Officer (Effective January 2, 2026)
Mr. Idnani will succeed Dale Gibbons as Chief Financial Officer of Western Alliance Bancorporation, effective January 2, 2026. He joins Western Alliance from J.P. Morgan, where he has been a Managing Director in the Financial Institutions Group since May 2021. During his two decades at J.P. Morgan, he advised over 50 global and regional banks, including Western Alliance. Mr. Idnani brings extensive experience in strategic financial operations, including accounting, corporate finance, regulatory matters, and deal-related execution.
Bruce D. Beach Chairman of the Board
Mr. Beach has been the Chairman of Western Alliance Bancorp since 2022. He is the co-founder of BeachFleischman PC, one of Arizona's largest locally owned CPA firms, where he served as Chief Executive Officer from 1991 to 2015 and Chairman from 1991 to 2021. He has been a Director of Western Alliance Bank since 2017 and previously served as the Board's Lead Independent Director since 2010. Mr. Beach holds both an undergraduate degree and an MBA from the University of Arizona.
Timothy W. Boothe Chief Administration Officer
Mr. Boothe has served as Chief Administration Officer of Western Alliance Bancorporation since July 2024. Prior to this role, he was the Chief Operating Officer of Western Alliance Bancorporation from October 2019 to July 2024. Before that, he served as President of Bridge Bank, a division of Western Alliance Bank, beginning in July 2015. He was also Executive Vice President and Chief Operating Officer of Bridge Bank from September 2006 until its acquisition by Western Alliance Bancorporation in July 2015.
AI Analysis | Feedback
Western Alliance Bancorp (WAL) faces several key risks to its business operations and financial performance.
Legal and Compliance Risk
Western Alliance Bancorp is currently facing significant legal and compliance risks. The company recently disclosed a lawsuit alleging borrower fraud related to collateral loans, which has prompted an investigation into the firm's compliance with federal securities laws. This situation has already caused distress among investors, leading to a notable drop in the company's stock price. The allegations suggest potential mismanagement or oversight in credit assessments and risk management strategies. Furthermore, there have been accusations of accounting malpractices and misleading financial presentations in recent quarters, which, if substantiated, could lead to further scrutiny and negative repercussions. This elevates legal and compliance risk as an acute concern for the business.
Interest Rate Fluctuations
As a financial institution, Western Alliance Bancorp is highly susceptible to changes in interest rates, which can significantly impact its profitability, net interest income, and the valuation of its assets and liabilities. The bank derives a substantial portion of its revenue from net interest income, making its net income heavily dependent on its net interest margin. In a rising rate environment, such as the one experienced in 2022 and potentially continuing, the interest rates paid on deposits and borrowings may increase more rapidly than the interest received on loans and securities. This dynamic can adversely affect the bank's net interest income and overall earnings.
Credit Risk and Loan Portfolio Quality
The quality of Western Alliance Bancorp's loan portfolio and the potential for higher defaults represent an ongoing key risk to the business. While the bank has stated that concerns about its commercial real estate (CRE) exposure might be exaggerated, office CRE constituted 42% of its criticized loans in Q2 2025. The bank also has concentrated exposure to specialized sectors, including technology, life sciences, and venture capital. Disruptions in these sectors or a general economic downturn, such as a recession, could lead to a reduction in the bank's deposit base, lower loan generation, and increased defaults, ultimately impacting profitability. Allegations of borrower fraud further highlight potential weaknesses in credit assessments and risk management practices.
AI Analysis | Feedback
The rise of digital-first financial technology companies (FinTechs), including neobanks and specialized online lenders. These entities leverage advanced technology and lower overhead to offer superior digital user experiences, faster processing, and often more competitive pricing or tailored solutions for deposits and loans. This directly challenges Western Alliance Bancorp's traditional branch-based model and legacy systems, potentially eroding its market share and customer base across various segments, much like Netflix disrupted Blockbuster or Uber challenged traditional taxis by offering a more convenient and often more cost-effective alternative.
AI Analysis | Feedback
Western Alliance Bancorp (symbol: WAL) operates primarily in the United States, offering a diverse range of financial products and services, including commercial banking, various loan types, and deposit services. The addressable markets for these main products and services within the U.S. are substantial.
Addressable Markets for Western Alliance Bancorp's Main Products and Services (U.S. Market)
- Commercial Banking: The U.S. commercial banking market size is estimated at $732.5 billion in 2025 and is forecasted to reach $915.45 billion by 2030, reflecting a 4.56% Compound Annual Growth Rate (CAGR). Another estimate places the market at $1.6 trillion in 2025.
- Overall Loan Market: The United States loan market was valued at $1.12 trillion in 2024 and is expected to reach $1.87 trillion by 2030, growing at a CAGR of 16.23%. This market encompasses various credit needs, including consumer loans, mortgages, personal loans, credit cards, and business financing.
- Commercial Real Estate (CRE) Loans: Total commercial real estate mortgage borrowing and lending in the U.S. was estimated at $498 billion in 2024. The broader U.S. CRE mortgage market consists of $4.5 trillion backed by income-producing properties and $470 billion of construction loans, as of March 2023. Total commercial and multifamily mortgage debt outstanding in the U.S. increased to $4.79 trillion in Q4 2024. Furthermore, commercial and multifamily loan originations are projected to reach $583 billion in 2025, with multifamily lending alone expected to be $361 billion.
- Residential Mortgage Loans: The U.S. home loan market reached $2.29 trillion in 2025 and is forecasted to grow to $3.02 trillion by 2030. Residential mortgage debt in the U.S. totaled $11.92 trillion as of the fourth quarter of 2022. The purchase-mortgage market within the U.S. is currently valued at $1,145.4 billion.
- Small Business Loans: The U.S. small business loan market was valued at $245.39 billion in 2023 and is projected to reach $349.64 billion by 2033, demonstrating a CAGR of 3.4% from 2024 to 2033.
- Deposits: The total deposits across all commercial banks in the United States were reported at approximately $17.92 trillion in February 2025. Other data indicates U.S. banks' total deposits at $19.66 trillion for Q2 2025 and $18.504 trillion as of October 2025.
AI Analysis | Feedback
Western Alliance Bancorp (WAL) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:
- Robust Loan and Deposit Growth: The company consistently targets and achieves significant expansion in its loan and deposit portfolios. Western Alliance Bancorp set ambitious targets for 2025, aiming for $5 billion in loan growth and $8 billion in deposit growth. In Q3 2025, deposit growth expectations were even raised to $8.5 billion. This growth is broad-based, encompassing commercial and industrial lending, commercial real estate, residential real estate, and an increase in non-interest-bearing deposits, which are a low-cost funding source.
- Net Interest Income (NII) and Net Interest Margin (NIM) Expansion: Western Alliance Bancorp anticipates continued growth in its net interest income, driven by disciplined rate management and an expanding net interest margin. The company forecasts net interest income growth in the range of 8-10% for 2025, with the net interest margin expected to approximate 2024's upper 3.5% level. This improvement is also supported by the active management of deposit rates and a projected decline in interest-bearing deposit costs.
- Growth in Non-Interest Income, including Mortgage Banking and Commercial Banking Fees: Non-interest income is a significant contributor to revenue, with mortgage banking revenue and commercial banking fees identified as key drivers. The company projects non-interest income growth of 8-10% for 2025, with Q3 2025 guidance even raising this outlook to 12-16% growth for the year. This is bolstered by firming mortgage banking revenue, especially with anticipated federal interest rate cuts, and increased commercial banking fee opportunities through deeper client relationships. Additionally, cybersecurity services, such as the Anti-Fraud Triangle platform, are contributing to non-interest income.
- Strategic Focus on Digital Asset Banking and Technology Innovation: Western Alliance Bancorp's strategic emphasis on digital asset banking and technology innovation is a key growth driver. The expansion of its digital asset banking program contributed $400 million of quarterly growth in Q2 2025. The company has also unified its six legacy division brands under the Western Alliance Bank brand to enhance market presence and operational efficiency, which can further support revenue generation.
- Expansion in Niche Industries and Specialized Banking Services: The bank is strategically expanding its presence in specialized financial services and niche industries. Western Alliance Bancorp has become the seventh-largest CLO (Collateralized Loan Obligation) trustee globally within two years. Furthermore, initiatives in affordable housing finance and lender finance, particularly with private credit clients, are fueling loan growth and contributing to overall revenue expansion.
AI Analysis | Feedback
Share Repurchases
- Western Alliance Bancorporation announced a $300 million share repurchase program on September 12, 2025, which has no expiration date.
- Through October 17, 2025, the company repurchased 300,833 shares for $25.0 million under the authorized program.
Share Issuance
- In March 2021, Western Alliance Bancorporation announced the pricing of 2.3 million shares of common stock.
- The company's equity increased as of September 30, 2025, partly due to the issuance of preferred stock from its REIT subsidiary.
- Western Alliance Bancorporation reported $110.2 million in Ordinary Share Capital for the fiscal quarter ending September 2025.
Outbound Investments
- In April 2021, Western Alliance Bancorporation completed the acquisition of Aris Mortgage Holding Company, LLC, the parent company of AmeriHome Mortgage Company, LLC, for $1.22 billion.
- The Bank acquired DST, a digital payments platform for the class action legal industry, in January 2022.
- Western Alliance Bancorporation announced the formation of Western Alliance Trust Company, N.A., a wholly owned non-depository subsidiary, on December 23, 2022.
Capital Expenditures
- Specific dollar values for capital expenditures over the last 3-5 years are not explicitly provided in the available information.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to WAL. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 14.5% | 14.5% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.5% | -1.5% | -1.5% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.5% | -4.5% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.6% | 7.6% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.1% | -11.1% | -12.1% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Western Alliance Bancorp
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 82.36 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 11,544 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.4% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 17.7% |
| Op Mgn 3Y Avg | 16.4% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 14.6% |
| CFO/Rev 3Y Avg | 17.1% |
| FCF/Rev LTM | 11.6% |
| FCF/Rev 3Y Avg | 12.1% |
Price Behavior
| Market Price | $86.56 | |
| Market Cap ($ Bil) | 9.4 | |
| First Trading Date | 07/01/2005 | |
| Distance from 52W High | -6.2% | |
| 50 Days | 200 Days | |
| DMA Price | $80.53 | $78.55 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 7.5% | 10.2% |
| 3M | 1YR | |
| Volatility | 42.2% | 43.3% |
| Downside Capture | 134.46 | 166.78 |
| Upside Capture | 100.45 | 146.67 |
| Correlation (SPY) | 40.0% | 66.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.86 | 1.41 | 1.38 | 1.68 | 1.49 | 1.93 |
| Up Beta | -0.05 | 1.92 | 2.13 | 2.44 | 1.30 | 1.88 |
| Down Beta | 0.29 | 1.80 | 1.63 | 1.54 | 1.61 | 1.62 |
| Up Capture | 173% | 80% | 62% | 149% | 181% | 1691% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 15 | 26 | 35 | 69 | 124 | 365 |
| Down Capture | 88% | 137% | 139% | 153% | 135% | 111% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 5 | 16 | 28 | 57 | 125 | 383 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of WAL With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| WAL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 4.2% | 16.3% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 42.9% | 19.0% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | 0.21 | 0.67 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 74.8% | 66.6% | -7.1% | 24.9% | 56.8% | 27.4% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of WAL With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| WAL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 10.2% | 16.1% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 60.2% | 18.9% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.42 | 0.71 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 60.5% | 46.0% | -7.5% | 13.3% | 38.6% | 15.3% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of WAL With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| WAL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 10.6% | 13.2% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 52.1% | 22.3% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.41 | 0.55 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 67.2% | 51.8% | -13.0% | 20.8% | 42.7% | 12.6% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2025 | 3.2% | 3.3% | -0.4% |
| 7/17/2025 | -4.0% | -1.7% | -2.0% |
| 4/21/2025 | 0.7% | 8.5% | 17.1% |
| 1/27/2025 | -5.1% | -10.2% | -7.9% |
| 10/17/2024 | -8.9% | -10.7% | -3.4% |
| 7/18/2024 | 7.9% | 12.4% | 11.1% |
| 4/18/2024 | 3.0% | 5.2% | 17.2% |
| 1/25/2024 | 2.5% | -10.0% | -11.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 12 | 14 |
| # Negative | 9 | 12 | 10 |
| Median Positive | 4.2% | 8.5% | 11.6% |
| Median Negative | -4.6% | -2.9% | -5.4% |
| Max Positive | 11.2% | 12.4% | 33.3% |
| Max Negative | -11.1% | -10.7% | -12.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/03/2025 | 10-Q (09/30/2025) |
| 06/30/2025 | 08/01/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/01/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 02/25/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 10/31/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/01/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/02/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 02/28/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 10/31/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/01/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/08/2023 | 10-Q (03/31/2023) |
| 12/31/2022 | 02/23/2023 | 10-K (12/31/2022) |
| 09/30/2022 | 11/01/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 07/29/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 04/29/2022 | 10-Q (03/31/2022) |
| 12/31/2021 | 02/25/2022 | 10-K (12/31/2021) |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.