Western Alliance (WAL)
Combines western commercial banking, national specialist teams, and AmeriHome mortgage services.
Something off on this page? Send us feedback.
Provides commercial loans, deposits, treasury management, specialist banking, and mortgage services through regional teams, national business lines, and AmeriHome. Revenue centers on interest spreads and service fees, while the model depends on deposit liquidity, credit quality, funding costs, mortgage markets, and banking regulation.
Combines Regional Banking, National Business Lines, and AmeriHome inside a bank holding company. Regional teams provide commercial loans, deposits, and treasury management in Arizona, Nevada, and California, while specialist bankers serve industries and transaction types nationwide.
Earns primarily through interest spreads supported by deposits and other funding, plus fees from treasury management, trust, specialist services, and mortgage banking. The model joins local relationship coverage with industry underwriting, funding, payments, and AmeriHome's correspondent mortgage acquisition, sale, securitization, and servicing activities.
Results depend on commercial deposit composition and liquidity, borrower and collateral performance, interest-rate and funding costs, mortgage-market execution, and regulatory capital requirements.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Raymond James | Initiate | Rating: —Target: — | Target: $90 |
| Jul 24, 2026 | Piper Sandler | Reiterate | Rating: —Target: $92 | Target: $97 |
| Jul 23, 2026 | Mizuho Securities | Target | Target: — | Target: $96 |
| Jul 23, 2026 | Stephens | Reiterate | Rating: —Target: $95 | Target: $96 |
| Jul 23, 2026 | Stifel Nicolaus | Target | Target: — | Target: $95 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $15.88B · Total debt $7.45B · Total assets $98.70B · Shareholders' equity $7.84B
- Revenue
- $888.5M
- Operating income
- $332.0M
- Net income
- $261.7M
HistoryDividendAnnual yield
| Institutions | 90.86% | 99.13M shares | |
|---|---|---|---|
| 516 holders · as of Jun 30, 2026 | |||
| Insiders | 1.06% | 1.16M shares | |
| 25 holders · as of Sep 17, 2026 | |||
| Other | 8.08% | 8.81M shares | |
| remainder | |||
109.10M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 10.34% | 11.28M | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 5.79% | 6.31M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 5.38% | 5.87M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.99% | 5.44M | as of Jun 30, 2026 |
AQR Capital Management LLCInstitution | 4.72% | 5.15M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 9, 2026 | Dale Gibbons | officer: Vice Chair and CBO, Deposits | −40,000 | $82.39 |
| Jun 8, 2026 | Ben Mucha | officer: Chief Accounting Officer | −5,946 | $81.00 |
| Feb 18, 2026 | Ben Mucha | officer: Chief Accounting Officer | −641 | $95.62 |
| Dec 15, 2025 | Marianne Boyd Johnson | director | −16,528 | $87.15 |
| Oct 30, 2025 | Dale Gibbons | officer: Vice Chairman and CFO | +4,000 | $77.00 |
- Zions Bancorporation
Closest western peer in middle-market commercial banking and deposits
- First Citizens BancShares
Specialist rival in commercial, venture, treasury, and HOA banking
- East West Bancorp
California commercial-bank rival for loans, deposits, and cash management
- Banc of California
California relationship-bank rival for middle-market and venture clients
- Customers Bancorp
Specialist-bank rival across venture, mortgage finance, escrow, and payments
- PennyMac Financial Services
Direct rival to AmeriHome in correspondent mortgages and servicing
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Western Alliance | $77.58 | −0.22% | $8.49B | 8.7 | 7.5 | 1.7 | +17.7% |
| Zions Bancorporation | $63.41 | −0.38% | $9.29B | 8.1 | 9.7 | 1.8 | +4.8% |
| First Citizens BancShares | $2,079.96 | +0.58% | $23.56B | 11.1 | 11.1 | 1.6 | −5.5% |
| East West Bancorp | $126.12 | +0.46% | $17.20B | 12.1 | 11.5 | 3.6 | +12.5% |
| Banc of California | $18.05 | −0.30% | $2.78B | — | 9.5 | 1.6 | +4.7% |
| Customers Bancorp | $77.59 | +0.30% | $2.62B | 9.4 | 8.6 | 1.8 | +12.4% |
| PennyMac Financial Services | $66.07 | −1.33% | $3.48B | 9.2 | 7.9 | 0.7 | +11.8% |
| Median | 9.4 | 9.6 | 1.7 | +8.3% |