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WAL

Western Alliance Bancorporation Common Stock (DE) (WAL) fair value

Financial Services · Banks - Regional · NYSE · United States
$76.12-0.72%
Market cap $8.3BNext earnings 2026-10-19Updated Oct 23, 2026
Our verdict
Trades 27% below our fair value
Price
$76.12
Model fair valueConfidence: good
$105
Model range
$93.87 to $119
Fair value $105
Price $76.12
3 models fit Western Alliance Bancorporation Common Stock (DE) and they agree: 3 of 3 land within 15% of the average. The price is below every model.
Two or more of our models back this value.
Large discount(i)Silver73
Valued as a bank: Residual income, P/E comparison, and Graham number.
ACCE opinionWestern Alliance Bancorporation Common Stock (DE) (WAL)
Fair value (3 models)
$105
ACCE price target
$86.00
Rating
Undervalued
Horizon
12 months
Fair value published on 23 Oct 2026, 11:04 CEST; previously $103 since 20 Oct 2026, 14:06 CEST.
ACCE price target published on 23 Oct 2026, 01:53 CEST; previously $90.00 since 10 Oct 2026, 00:00 CEST.
Rating published on 18 Oct 2026, 17:04 CEST.
Price used: $76.12 at the close on 23 Oct 2026, 22:00 CEST.
Models: P/E comparison, Graham number, and Residual income.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
27.4% below
+37.8% to fair value
ACCE score
61
out of 100
Analysts
75% buy
16 covering
P/E
8.4x
forward 7.1x
1-year return
-1.3%
Dividend yield
2.28%

Western Alliance Bancorporation Common Stock (DE) in four questions

Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Western Alliance is a Phoenix-based regional bank holding company whose subsidiaries include Bank of Nevada, Alliance Bank of Arizona and First Independence Bank, with commercial real estate, homebuilder finance, mortgage warehouse lending and business banking as its core lines. The franchise sits in some of the fastest-growing deposit markets in the country, and its specialty lending niches have historically earned returns above the regional peer group. Trailing earnings and revenue growth of 13.6% are the main near-term driver, and the stock trades at 8.5 times trailing and 7.1 times forward earnings against a 13.0% return on equity, a combination that screens cheap relative to that profitability. The 39.4% operating margin and 13.0% ROE are the figures to test first, since a regional lender's earnings quality depends heavily on credit costs in its commercial real estate book and on how its deposit base holds up if rates stay high. Worth a deeper look if the credit and deposit work confirms the earnings profile.

AI-assisted·How I use AIWritten Oct 23, 2026
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
  • moderate
    Negative free cash flow
    Free cash flow is reported at $-2.79B against an $8.1B market cap. For a bank this often reflects loan growth rather than weakness, but it is worth checking against deposit and capital trends.
  • moderate
    Margin score weak
    The margin sub-score is 40/100 while quality scores 81. Growth in revenue is strong, but the margin profile is a weaker part of the picture.

AI research notes

AI-assisted·How I use AIWritten Oct 17, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Trailing P/E of 8.4x and forward P/E of 6.6x sit well below the sector median forward P/E of 11.8x.
  • Net margin of 28.2% and return on equity of 13.0% show the bank is turning revenue into profit efficiently.
  • Analysts rating the stock Buy or Strong Buy total 75% (12 of 16), and their mean price target sits 21.9% above the share price.
Why it could disappoint
  • Free cash flow over the last 12 months was negative at -$2.8B, and the free cash flow yield stands at -34.4%.
  • The latest earnings per share missed expectations, coming in at 2.22 against 2.33 expected, a surprise of -4.7%.
  • Return on invested capital of 5.6% is thin, and debt to equity of 0.85 leaves less room if deposits keep leaving.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

PRO

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Valuation

INVESTOR
Where WAL's valuation models land
Price
$76.12
Model fair value
$105
Model range
$93.87 to $119
Fair value $105
Price $76.12
The price is below the whole model range.
Model
Fair value
Upside
Graham number
P/E comparison
Residual income
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See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.

Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

Bullish75% buy · 16 covering analysts
● Strong buy 7● Buy 5● Hold 4● Sell 0● Strong sell 0
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
Do politicians beat the market? Our backtest →
Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
+2.2%
1 month
+0.7%
3 months
-8.4%
6 months
-4.2%
YTD
-9.5%
1 year
-1.3%

SEC filings

Recommendation history, last 12 months

DateTypeNewPreviousPrice
23 Oct 2026, 11:04 CESTFair value$105$103$76.67
23 Oct 2026, 01:53 CESTACCE price target$86.00$90.00$76.67
20 Oct 2026, 14:06 CESTFair value$103$105$73.63
18 Oct 2026, 17:04 CESTRatingUndervaluedfirst publication$74.51
10 Oct 2026, 00:00 CESTFair value$105$98.77$75.50
10 Oct 2026, 00:00 CESTACCE price target$90.00first publication$75.50
2 Oct 2026, 00:00 CESTFair value$98.77$100$75.10
24 Sept 2026, 00:00 CESTFair value$100$102$77.75
16 Sept 2026, 00:00 CESTFair value$102$103$79.18
8 Sept 2026, 00:00 CESTFair value$103$99.66$80.95

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth60Value62Quality81Momentum40Total61
Valuation
Trailing P/E
8.4x
Forward P/E
7.1x
PEG
0.60
P/B
1.09x
EV / Revenue
4.1x
Book value/sh
$68.06
Enterprise value
$9.6B
Profitability
ROE
13.0%
FCF yield
-33.63%
ROIC
5.6%
Health and risk
Debt / equity
0.85
Dividend yield
2.28%
Beta
1.42

Price

-4.0% · 1Y

Ask anything about WAL

Answered from Western Alliance Bancorporation Common Stock (DE) fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 100% of peers
low 8.4x8.4xhigh 37.4x
ROEbetter than 100% of peers
low 3%13%high 13%
Div yieldbetter than 17% of peers
low 1.3%2.3%high 3.7%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
WAL Western Alliance Bancorporation Common Stock (DE)$76.12$10527% below8.4x13.0%8161
8303.T SBI Shinsei Bank, Limited¥1508.00--12.0x-6561
8354.T Fukuoka Financial Group, Inc.¥6654.00¥489436% above14.2x8.7%6171
7167.T Mebuki Financial Group,Inc.¥1445.00--14.4x9.2%6173
5831.T Shizuoka Financial Group,Inc.¥2894.00¥201544% above15.7x8.2%6172
8331.T The Chiba Bank, Ltd.¥2371.50¥148660% above17.0x8.3%6180
8421.T Shinkin Central Bank¥187900.00--37.4x2.9%5549

Sector report card

Where WAL ranks against its sector peers on each metric.

Computing percentiles…
  • Business Wire•Oct 6, 2026
    Western Alliance Bancorporation Announces Third Quarter 2026 Earnings Release Date, Conference Call and Webcast
  • Business Wire•Sep 14, 2026
    Western Alliance Bancorporation to Participate in Fireside Chat at Barclays Global Financial Services Conference
  • Business Wire•Jul 21, 2026
    Western Alliance Bancorporation Reports Second Quarter 2026 Financial Results
7 more press releases · full archive on Investor+.INVESTOR
40 filings
October 2026
Oct 19
8-KCurrent reportPeriod 2026-10-19
View on SEC →
Oct 19
Form 4Insider transactionPeriod 2026-10-15
View on SEC →
Oct 19
Form 4Insider transactionPeriod 2026-10-15
View on SEC →
37 more filings + AI summaries on Investor+.INVESTOR