WESTERN ALLIANCE BANCORPORATION
In the published model solve dated 2026-Q2, anchored at $83.02, WESTERN ALLIANCE BANCORPORATION (WAL) is priced for more than 16.2% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• Western Alliance is a high-return commercial bank built on specialized national lending niches and a fast-growing deposit base, with a loan book concentrated in ⟦"commercial and industrial, residential mortgage, and CRE loans."⟧ • The defining risk is deposit confidence: the bank was at the center of the 2023 regional-bank scare, and its funding still leans on large commercial relationships rather than a granular retail base. • What to watch is the return on equity holding near 13% while credi
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427 institutional managers reported holding WAL in 13F filings for the quarter ended 2026-03-31. Together they hold about 83% of the company; the top 10 hold 51%. 76 opened new positions that quarter. Held by BlackRock, Vanguard Group, T. Rowe Price, among others. On the short side, 4.1M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (4.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
WAL's share count grew 5.4% over the past five years even with $118.40M spent on repurchases. It stopped paying its dividend within the past year. Cash returned over the past three years: $107.50M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at WAL over the trailing three years: 2025: 1 buy totaling $308k. 26 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
WAL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-02 | -3.1% | -14.3% |
| 2023-11-01 | +2.6% | +47.0% |
| 2024-02-29 | +5.7% | +3.9% |
| 2024-05-03 | +4.3% | +2.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
WAL's latest 8-K filings: 2026-07-30 (items 8.01, 9.01); 2026-07-21 (items 2.02, 9.01); 2026-06-11 (items 5.07, 9.01); 2026-05-12 (items 5.02, 9.01); 2026-05-12 (items 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.