WAL Stock Summary and Trading Ideas (Western Alliance Bancorporation Common (De) | NYSE:WAL)

Western Alliance Bancorporation is a Las Vegas-based holding company with regional banks operating in Nevada, Arizona, and California. The bank offers retail banking services and focuses on mortgages for retail customers and commercial loans. The company's reportable segments are Commercial segment includes provides commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry. Consumer Related segment offers both commercial banking services to enterprises in consumer-related sectors and consumer banking services, such as residential mortgage banking. Corporate & Other.

Western Alliance Bancorporation Common (De) trades on the NYSE stock market under the symbol WAL.

As of April 23, 2024, WAL stock price climbed to $59.82 with 923,122 million shares trading.

WAL has a beta of 2.45, meaning it tends to be more sensitive to market movements. WAL has a correlation of 0.20 to the broad based SPY ETF.

WAL has a market cap of $6.59 billion. This is considered a Mid Cap stock.

Last quarter Western Alliance Bancorporation Common (De) reported $729 million in Revenue and $1.72 earnings per share. This beat revenue expectation by $32 million and exceeded earnings estimates by $.06.

In the last 3 years, WAL stock traded as high as $124.93 and as low as $7.46.

The top ETF exchange traded funds that WAL belongs to (by Net Assets): VTI, VB, VBR, VXF, KRE.

WAL has outperformed the market in the last year with a price return of +51.0% while the SPY ETF gained +24.3%. However, in the short term, WAL had mixed performance relative to the market. It has underperformed in the last 3 months, returning -8.9% vs +4.9% return in SPY. But in the last 2 weeks, WAL shares have fared better than the market returning -2.4% compared to SPY -2.5%.

WAL support price is $57.15 and resistance is $60.19 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that WAL stock will trade within this expected range on the day.