#5 - Western Alliance Bancorporation (NYSE:WAL)
Western Alliance Bancorporation (NYSE: WAL) is a small, mid-cap bank with a market cap of just $3.60 billion. The bank operates in the southwestern United States, including Arizona. We’ve pointed out that when it comes to regional banks, location matters. And that’s true in this case as Arizona is seeing growth in its manufacturing sector. Notably, both Intel Corporation (NASDAQ: INTC) and Taiwan Semiconductor Manufacturing (NYSE: TSM) will be building plants in the state.
However, the bank was one of the regional banks that was hardest hit after the collapse of Silicon Valley Bank in March 2023. The bank had $65 billion in assets but did say that deposits had fallen 11% from their December 2022 level.
Nevertheless, as of December 2022, the bank’s Common Equity Tier 1 ratio was 9.32% which was higher than the prior year’s ratio of 9.10%.
About Western Alliance Bancorporation
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 through Commercial and Consumer Related 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; demand deposits; and treasury management and residential mortgage products and services.
Read More - Current Price
- $84.62
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $94.75 (12.0% Upside)
