Added to YB: 2024-06-10
Pitch date: 2024-06-10
WAL [bullish]
Western Alliance Bancorporation
+54.32%
current return
Author Info
No bio for this author
Company Info
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.
Market Cap
$8.0B
Pitch Price
$55.84
Price Target
N/A
Dividend
2.06%
EV/EBITDA
N/A
P/E
9.13
EV/Sales
N/A
Sector
Banks
Category
value
Western Alliance Bancorporation: A Low-Risk, High-Quality Banking Opportunity
WAL: Diversified from NV community bank to national commercial bank post-GFC. 70% of GFC losses from 44% of loan book in '09, now <6%. Reserves at 74bps vs 125bps for $50-100B peers. Adj reserves at 131bps on low NCOs of 8bps. 5% CRE office exposure, no card/auto. Focused on growth + pristine credit.
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