Western Alliance Bancorporation
Western Alliance Bancorporation (WAL) is listed on NYSE and classified in Banks - Regional, part of the Financial Services sector. It is headquartered in Phoenix, United States and has 3,769 employees. The company is worth $8.36B and trades at 8.5x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $3.54B in fiscal 2025, up 12.0% from the year before. Net income was $969M. The share price is 21.1% below its 52-week high of $97.23. It pays a dividend yielding 2.19%, and has raised its annual dividend for 5 years in a row in our records. 6 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $422.97M. In that quarter, 3 of them opened or added to the position and 2 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -32.1% over 5Y.
today you would have $715.33▼ -28.5%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 17 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $84.07 | $83.54 | $65.79 | $59.56 | $107.65 | $59.95 | $57.00 | $39.49 | $56.62 | $48.71 | $35.86 | $27.80 | $23.86 | $10.53 | $6.23 | $7.36 | $3.78 | |
| P/E |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 11.6% a year plus a 2.2% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 12.4 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| MORNMorningstar, Inc. | $223.33 | 21.2x | 8.2x | 0.90% | 31.96% | $8.38B |
| THGHanover Insurance Group Inc | $239.59 | 11.1x | 2.3x | 1.59% | 21.89% | $8.34B |
| PBProsperity Bancshares Inc | $69.85 | 11.8x | 0.8x | 3.44% | 7.07% | $8.39B |
| COLBColumbia Banking System Inc |
| 12.4x |
| 9.6x |
| 11.8x |
| 10.1x |
| 6.1x |
| 12.4x |
| 11.9x |
| 11.8x |
| 9.5x |
| 18.3x |
| 19.5x |
| 17.7x |
| 16.6x |
| 18.2x |
| 12.7x |
| 32.8x |
| — |
| — |
| P/S | 4.3x | 2.6x | 2.9x | 2.8x | 2.6x | 5.7x | 5.2x | 5.3x | 4.3x | 7.2x | 7.3x | 7.1x | 6.0x | 5.9x | 2.7x | 1.8x | 2.2x | 1.1x |
| P/B | 1.6x | 1.2x | 1.4x | 1.2x | 1.2x | 2.2x | 1.9x | 1.9x | 1.6x | 2.7x | 2.7x | 2.3x | 2.5x | 2.4x | 1.2x | 0.8x | 1.0x | 0.4x |
| EPS | $8.73 | $7.09 | $6.54 | $9.70 | $8.67 | $5.04 | $4.84 | $4.14 | $3.10 | $2.50 | $2.03 | $1.67 | $1.31 | $0.83 | $0.19 | -$0.23 | -$2.57 |
| Dividend yield | 1.78% | 1.86% | 1.78% | 2.20% | 2.38% | 1.11% | 1.67% | 0.88% | — | — | — | — | — | — | — | — | — | — |
| Payout | 17.87% | 17.87% | 21.02% | 22.17% | 14.64% | 13.84% | 19.84% | 10.33% | — | — | — | — | — | — | — | — | — | — |
| Profit margin | 36.13% | 27.35% | 24.91% | 27.58% | 41.61% | 46.04% | 40.93% | 45.16% | 45.44% | 39.22% | 37.11% | 37.19% | 36.13% | 32.38% | 21.57% | 10.78% | -2.58% | -73.24% |
| ROE | 13.44% | 12.66% | 11.74% | 11.88% | 19.74% | 18.12% | 14.84% | 16.55% | 16.67% | 14.60% | 13.73% | 12.21% | 14.78% | 13.44% | 9.57% | 4.95% | -1.19% | -26.30% |
Median of the years shown; P/E years above 200x are left out.
Dividend growing 8.0% a year against a 11.1% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 2 families.
Room for errors in the reported numbers.
+12.7% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| $29.89 |
| 11.7x |
| 1.1x |
| 4.95% |
| 11.03% |
| $8.46B |
| CBSHCommerce Bancshares Inc | $56.51 | 13.6x | 1.9x | 1.95% | 14.69% | $8.11B |
| FCFSFirstCash Holdings, Inc. | $184.78 | 24.7x | 3.6x | 0.91% | 17.40% | $8.01B |