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Western Alliance Bancorp Stock Research

WAL

34.05USD+1.00(+3.03%)Market Closed

Market Summary

USD34.05+1.00
Market Closed
3.03%

WAL Alerts

WAL Stock Price

WAL RSI Chart

WAL Valuation

Market Cap

3.7B

Price/Earnings (Trailing)

3.46

Price/Sales (Trailing)

1.36

EV/EBITDA

1.07

Price/Free Cashflow

1.63

WAL Price/Sales (Trailing)

WAL Profitability

EBT Margin

48.89%

Return on Equity

19.74%

Return on Assets

1.56%

Free Cashflow Yield

61.34%

WAL Fundamentals

WAL Revenue

Revenue (TTM)

2.7B

Revenue Y/Y

83.8%

Revenue Q/Q

20.14%

WAL Earnings

Earnings (TTM)

1.1B

Earnings Y/Y

19.11%

Earnings Q/Q

10.98%

Price Action

52 Week Range

7.4686.35
(Low)(High)

Last 7 days

16.6%

Last 30 days

-53.9%

Last 90 days

-40.5%

Trailing 12 Months

-60.0%

WAL Financial Health

Debt/Equity

0.23

Debt/Cashflow

1.84

WAL Investor Care

Dividend Yield

4.15%

Dividend/Share (TTM)

1.41

Shares Dilution (1Y)

4.07%

Diluted EPS (TTM)

9.7

Peers (Alternatives to Western Alliance Bancorp)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
56.4B
40.0B
-7.13% -31.27%
5.3
1.79
34.99% -10.60%
20.6B
6.2B
-24.47% -35.33%
14.94
3.3
58.61% -25.85%
15.0B
7.1B
-27.24% -35.42%
7.24
2.13
45.54% -10.61%
MID-CAP
7.9B
2.3B
-27.45% -31.57%
6.96
3.38
43.40% 29.22%
6.9B
999.0M
-13.03% -20.31%
14.19
6.94
17.76% -7.98%
6.3B
5.7B
-67.21% -80.32%
3.9
1.11
72.48% -22.38%
5.7B
1.1B
-15.87% -11.52%
10.86
5.2
4.58% 1.01%
4.6B
432.9M
-13.68% -29.01%
19.5
10.56
15.00% 3.04%
3.9B
2.5B
-23.36% -35.34%
3.56
1.59
16.17% 17.94%
3.7B
2.7B
-53.87% -59.97%
3.46
1.36
62.28% 17.58%
SMALL-CAP
1.9B
450.9M
-14.93% -8.52%
9.52
4.12
1.16% -2.82%
1.8B
380.5M
-19.90% -31.74%
16.43
4.6
51.31% -14.39%
1.7B
674.7M
-21.41% -20.26%
7.78
2.45
14.59% -3.52%
1.6B
239.6M
-10.34% -14.83%
15.62
6.77
23.99% 8.44%

Financials for Western Alliance Bancorp

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue17.7%2,6922,2871,9901,8091,659
EBITDA7.6%3,5853,3333,1112,9072,706
EBITDA Margin-8.6%1.33*1.46*1.56*1.61*1.63*
Earnings Before Taxes4.3%1,3161,2611,2341,1871,123
EBT Margin-11.4%0.49*0.55*0.62*0.66*0.68*
Interest Expenses9.3%2,2162,0271,8361,6811,549
Net Income4.7%1,0571,010983947899
Net Income Margin-11.1%0.39*0.44*0.49*0.52*0.54*
Free Cahsflow368.6%2,245-835-1,652-3,377-2,654
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets-2.1%67,73469,16566,05560,57655,983
    Cash Equivalents-35.2%1,0431,6101,8862,602516
  Net PPE16.5%276237210196182
Liabilities-2.8%62,37864,14461,09655,56551,020
.    Short Term Borrowings28.1%5,0963,97970.00727-
  Long Term Debt-0.6%1,2231,231763775-
Shareholder's Equity6.7%5,3565,0214,9595,0124,963
  Retained Earnings7.4%3,6643,4133,1912,9732,773
Shares Outstanding0.2%108107106--
Cashflow (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations368.6%2,245-835-2,490-3,377-2,654
  Share Based Compensation0%40.0040.0039.0037.0035.00
Cashflow From Investing-237.1%-13,1309,5771,203-8,055-14,711
Cashflow From Financing-29.9%11,41216,29117,24412,63815,211
  Dividend Payments1.5%166164158143128
  Buy BacksNaN%0.000.00---

Risks for WAL

What is the probability of a big loss on WAL?

70%


Probability that Western Alliance Bancorp stock will be more than 20% underwater in next one year

58.1%


Probability that Western Alliance Bancorp stock will be more than 30% underwater in next one year.

33.5%


Probability that Western Alliance Bancorp stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does WAL drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Western Alliance Bancorp was unfortunately bought at previous high price.

Drawdowns

Returns for WAL

Cumulative Returns on WAL

10.2%


10-Year Cumulative Returns

2.3%


7-Year Cumulative Returns

-8.6%


5-Year Cumulative Returns

5.4%


3-Year Cumulative Returns

What are the long-term rolling returns for WAL?

FIve years rolling returns for Western Alliance Bancorp.

Annualized Returns

Which funds bought or sold WAL recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-24
PALISADE CAPITAL MANAGEMENT, LP
reduced
-1.95
-2,770,370
22,038,600
0.59%
2023-03-23
MetLife Investment Management, LLC
reduced
-2.04
-35,913
283,386
-%
2023-03-17
American Portfolios Advisors
reduced
-5.96
-1,326
9,335
-%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
reduced
-36.03
-20,042,400
27,624,600
0.03%
2023-03-06
Rockefeller Capital Management L.P.
added
7.45
-10,000
335,000
-%
2023-02-28
Voya Investment Management LLC
reduced
-18.78
-4,331,800
12,061,200
0.02%
2023-02-24
SRS Capital Advisors, Inc.
sold off
-100
-1,000
-
-%
2023-02-22
CVA Family Office, LLC
new
-
893
893
-%
2023-02-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
added
1.92
-166,000
2,013,000
0.02%
2023-02-21
MACQUARIE GROUP LTD
reduced
-15.49
-40,042,000
130,493,000
0.15%

1–10 of 47

Latest Funds Activity

Are funds buying WAL calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own WAL
No. of Funds

Western Alliance Bancorp News

Barron's

Banks Continue Recovery After SVB Sale. First Citizens Isn’t the Only Winner..

Barron's,
21 minutes ago

Reuters.com

Seeking Alpha

Schedule 13G FIlings of Western Alliance Bancorp

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Mar 14, 2023
citadel advisors llc
5.3%
6
SC 13G
Feb 14, 2023
price t rowe associates inc /md/
5.8%
6,360,932
SC 13G/A
Feb 14, 2023
t. rowe price investment management, inc.
5.6%
6,058,243
SC 13G
Feb 13, 2023
capital international investors
7.1%
7,707,976
SC 13G/A
Feb 09, 2023
vanguard group inc
9.27%
10,092,749
SC 13G/A
Feb 14, 2022
price t rowe associates inc /md/
13.4%
14,063,679
SC 13G/A
Feb 11, 2022
capital international investors
5.8%
6,024,657
SC 13G
Feb 11, 2022
capital international investors
5.8%
6,024,657
SC 13G
Feb 04, 2022
wellington management group llp
3.93%
4,090,884
SC 13G/A
Apr 12, 2021
price t rowe associates inc /md/
11.3%
11,474,679
SC 13G/A

WAL Fair Value

Western Alliance Bancorp fair value in different scenarios

The table shows the Fair Value estimates for Western Alliance Bancorp for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

-

-

-

-

-

-

-

-

-

-
Current Inflation

166.00

387.52%

241.77

610.04%

383.24

1025.52%

516.88

1418.00%

608.33

1686.58%
Very High Inflation

-

-

-

-

-

-

-

-

-

-

Historical Western Alliance Bancorp Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Western Alliance Bancorp

View All Filings
Date Filed Form Type Document
Mar 15, 2023
4
Insider Trading
Mar 14, 2023
SC 13G
Major Ownership Report
Mar 13, 2023
8-K
Current Report
Feb 28, 2023
4
Insider Trading
Feb 28, 2023
4
Insider Trading
Feb 28, 2023
4
Insider Trading
Feb 23, 2023
10-K
Annual Report
Feb 21, 2023
4
Insider Trading
Feb 21, 2023
4
Insider Trading
Feb 21, 2023
4
Insider Trading

Latest Insider Trading transactions for WAL

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-13
JOHNSON MARIANNE BOYD
bought
63,830
25.79
2,475
-
2023-02-25
Curley Stephen Russell
sold (taxes)
-55,512
73.82
-752
chief banking ofc.-nbl
2023-02-25
Ardrey J. Kelly Jr.
sold (taxes)
-10,851
73.82
-147
chief accounting officer
2023-02-25
Nachlas Emily
sold (taxes)
-21,186
73.82
-287
chief risk officer
2023-02-21
Bruckner Tim R
sold
-128,030
73.16
-1,750
cbo for regional banking
2023-02-16
Vecchione Kenneth
acquired
-
-
38,147
president and ceo
2023-02-16
GIBBONS DALE
sold (taxes)
-255,468
73.92
-3,456
vice chairman and cfo
2023-02-16
Vecchione Kenneth
sold (taxes)
-1,183,020
73.92
-16,004
president and ceo
2023-02-16
Boothe Timothy W
sold (taxes)
-131,282
73.92
-1,776
chief operating officer
2023-02-16
Vecchione Kenneth
acquired
-
-
102
president and ceo

1–10 of 50

Kenneth A. Vecchione
3140
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 in Commercial, Consumer Related, and Corporate & Other segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services. It also offers commercial and industrial loan products, such as working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. In addition, the company provides other financial services, such as internet banking, wire transfers, electronic bill payment and presentment, lock box services, courier, and cash management services. Further, it holds certain investment securities, municipal and non-profit loans, and leases; invests primarily in low-income housing tax credits and small business investment corporations; and holds certain real estate loans and related securities. The company operates 36 branch locations, as well as loan production offices. Western Alliance Bancorporation was founded in 1994 and is headquartered in Phoenix, Arizona.

WAL Income Statement

2022-12-31
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:   
Loans, including fees$ 2,393.4$ 1,488.8$ 1,144.3
Investment securities265.6158.6107.8
Dividends and other32.811.39.7
Total interest income2,691.81,658.71,261.8
Interest expense:   
Deposits276.447.570.4
Qualifying debt35.033.123.9
Other borrowings164.129.30.6
Total interest expense475.5109.994.9
Net interest income2,216.31,548.81,166.9
Provision for (recovery of) credit losses(68.1)(21.4)(123.6)
Net interest income after provision for (recovery of) credit losses2,148.21,570.21,043.3
Non-interest income:   
Service charges and fees27.028.323.3
Income from equity investments17.822.112.7
Fair value (loss) gain on assets measured at fair value, net(28.6)(1.3)3.8
Other income30.512.316.1
Total non-interest income324.6404.270.8
Non-interest expense:   
Salaries and employee benefits539.5466.7303.6
Legal, professional, and directors' fees99.958.642.2
Occupancy55.543.834.1
Deposit costs165.829.818.5
Data processing83.058.235.7
Insurance31.123.013.3
Gain (Loss) on Extinguishment of Debt0.05.90.0
Net gain on sales and valuations of repossessed and other assets(0.7)(3.5)(1.5)
Other expense81.557.836.1
Total non-interest expense1,156.7851.4491.6
Income before provision for income taxes1,316.11,123.0622.5
Income tax expense258.8223.8115.9
Net income1,057.3899.2506.6
Preferred Stock Dividends, Income Statement Impact12.83.50.0
Net income available to common stockholders$ 1,044.5$ 895.7$ 506.6
Earnings per share:   
Basic$ 9.74$ 8.72$ 5.06
Diluted$ 9.70$ 8.67$ 5.04
Weighted average number of common shares outstanding:   
Basic107.2102.7100.2
Diluted107.6103.3100.5
Net gain on loan origination and sale activities$ 104.0$ 326.2$ 0.0
Commercial banking related income21.517.414.7
Gain on sales of investment securities6.88.30.2
Gain on recovery from credit guarantees14.77.20.0
Loan servicing fees, net130.9(16.3)0.0
Expense Related to Distribution or Servicing and Underwriting Fees55.553.50.0
Loan Processing Fee23.128.80.0
Acquisition and restructure expenses0.415.30.0
Business Development$ 22.1$ 13.5$ 9.6

WAL Balance Sheet

2022-12-31
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Assets:  
Cash and due from banks$ 259.0$ 166.0
Interest-bearing deposits in other financial institutions784.0350.0
Cash and cash equivalents1,043.0516.0
Debt Securities, Available-for-sale7,092.06,189.0
Investment securities - HTM, at amortized cost; fair value of $516,261 at December 31, 2019 and $298,648 at December 31, 20181,289.01,107.0
Debt Securities, Held-to-maturity, Allowance for Credit Loss(5.0)(5.0)
Debt Securities, Held-to-maturity, Net1,284.01,102.0
Investment securities - equity160.0159.0
Investments in restricted stock, at cost224.092.0
Financing Receivable, Held-for-Sale1,184.05,635.0
Loans:  
Loans and Leases Receivable, Net of Deferred Income51,862.039,075.0
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest309.7252.5
Loans and Leases Receivable, Net Amount, Total51,552.038,823.0
Premises and equipment, net276.0182.0
Operating lease right of use asset163.0133.0
Bank owned life insurance182.0180.0
Goodwill and intangible assets, net680.0635.0
Deferred tax assets, net311.021.0
Investments in LIHTC and renewable energy624.0631.0
Other assets1,811.0987.0
Total assets67,734.055,983.0
Deposits:  
Non-interest-bearing demand19,691.021,353.0
Interest-bearing33,953.026,259.0
Total deposits53,644.047,612.0
Customer repurchase agreements27.017.0
Other borrowings6,299.01,502.0
Qualifying debt893.0896.0
Operating lease liability185.0143.0
Other liabilities1,357.0867.0
Total liabilities62,378.051,020.0
Commitments and contingencies (Note 18)
Stockholders’ equity:  
Common Stocks, Including Additional Paid in Capital2,163.01,966.0
Treasury stock, at cost (2,003,873 shares at December 31, 2019 and 1,793,231 shares at December 31, 2018)(105.0)(87.0)
Accumulated other comprehensive (loss) income(661.0)15.7
Retained earnings3,664.02,773.0
Total stockholders’ equity5,356.04,962.6
Total liabilities and stockholders’ equity67,734.055,983.0
Debt Securities, Available-for-sale, Amortized Cost7,973.06,167.0
Debt Securities, Held-to-maturity, Fair Value$ 1,112.0$ 1,146.0
Common stock, par value$ 0.0001$ 0.0001
Common stock, shares authorized200,000,000200,000,000
Common Stock, Shares, Issued111,465,292108,981,341
Treasury Stock, Shares2,550,7662,350,021
Servicing Asset$ 1,148.0$ 698.0
Preferred Stock, Value, Issued$ 295.0$ 295.0
Preferred Stock, Liquidation Preference Per Share$ 25$ 25
Preferred Stock, Shares Authorized20,000,00020,000,000
Preferred Stock, Shares Outstanding12,000,00012,000,000
Preferred Stock, Par or Stated Value Per Share$ 0.0001$ 0.0001