Western Alliance Bancorporation (WAL) Stock

Western Alliance Bancorporation (WAL) is a Financials stock trading at $79.18 (as of 2026-08-20), with a market capitalization of $8.65B and a trailing P/E of 8.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Western Alliance Bancorporation is the bank holding company for Western Alliance Bank, providing deposit services, treasury management, and residential mortgage products, along with commercial and consumer lending. It operates primarily in Arizona, California, and Nevada through segments including Commercial, Consumer Related, and Corporate & Other.

Understand Western Alliance Bancorporation: how it makes money

Western Alliance Bancorporation operates Western Alliance Bank, offering deposits, treasury and residential mortgage products, and commercial and industrial lending, and it makes money primarily through lending and mortgage-related revenues (including mortgage banking, servicing, and gain on sale).

For Western Alliance, the profit engine links loan scale (especially Commercial and Consumer Related loan balances) to recurring earnings power through pre-provision net revenue, while mortgage and related activities add incremental revenue streams such as mortgage banking revenue, servicing revenue, and gain on sale.

Business quality (Strong): The company has a straightforward operating model (loans plus mortgage-related revenue) and a segment framework (Commercial, Consumer Related, Corporate & Other), but this dataset provides limited segment-level revenue detail, so some drivers must be inferred from operating line items and loan-balance KPIs.

Valuation: At 9× earnings, WAL trades 26% below the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

  • Loan footprint in Commercial is sizable: Commercial Segment High-Quality Loan Balance is 29.6 USD_B in the latest quarter, indicating meaningful earning-asset scale in the main lending segment.
  • Mortgage-related revenue contributes beyond core lending: Mortgage banking revenue is 0.09 USD_B, and the dataset also shows servicing revenue (0.02 USD_B) and gain on sale revenue (0.01 USD_B).

Bear case

  • Pre-provision profitability is not the same as final profitability: The dataset highlights pre-provision net revenue measures (PPNR and adjusted PPNR), so final results depend on items that are not captured by these KPIs alone.
  • Mortgage revenue can be sensitive to underlying market activity: Mortgage-related lines are present (mortgage banking revenue, servicing revenue, and gain on sale revenue), which can be exposed to changes in mortgage production and related activity.
Valuation — source: SEC EDGAR (first-party)
Price$79.18
Market Cap$8.65B
P/E Ratio8.8
EV / EBITDA6.6
Price / Book1.06
Price / Sales42.76
DCF Value (model)$104.16
DCF Upside vs Price31.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$135.80M
Net Margin713.5%
Revenue Growth (YoY)94.5%
EPS Growth (YoY)13.9%
Valuation vs Sector & Industry
Stock P/E8.8
Sector P/E (Financials)15.1
Industry P/E (Banking)12.9
vs Sector-41.9%
vs Industry-31.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($868.92M)
Institutional Holders Tracked10
Congressional Trades (recent)7
Company
SectorFinancials
IndustryBanking
CEOKenneth A. Vecchione
Employees3,562
CountryUS
IPO Date2005-07-01

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WAL earnings history · WAL institutional & insider holders · WAL KPIs & operating metrics · WAL financials · WAL investor presentations & press releases · WAL SEC filings · WAL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.