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Western Alliance Bancorporation - $WAL STOCK NEWS

Welcome to our dedicated page for Western Alliance Bancorporation news (Ticker: $WAL), a resource for investors and traders seeking the latest updates and insights on Western Alliance Bancorporation stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Western Alliance Bancorporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Western Alliance Bancorporation's position in the market.

Rhea-AI Summary

Western Alliance Bancorporation promoted Jocelyn Lynch to President and CEO of Western Alliance Trust Company, N.A. Lynch, with extensive experience in corporate trust services, will lead the organization's strategy and operations. She aims to enhance client asset management strategies through premier collateral management services.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.86%
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Rhea-AI Summary
Heather Kelly has been appointed as the Head of Western Alliance Bank's Business Escrow Services group, bringing her extensive experience in M&A deals and escrow services to drive growth and success. With over two decades of experience, Kelly will oversee strategic direction, operations, and technology integration to simplify the post-closing process for clients.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.25%
Tags
management
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Rhea-AI Summary
Western Alliance Bancorporation (NYSE:WAL) reports robust first quarter 2024 financial results with net income of $177.4 million, earnings per share of $1.60, and PPNR of $247.0 million. Key highlights include deposit growth of $6.9 billion, loan-to-deposit ratio down to 81.5%, and repayment of $1.0 billion of borrowings. CEO Kenneth A. Vecchione emphasizes the stability of asset quality and balance sheet repositioning efforts. Financially, the company saw a 6.8% increase in net revenue to $728.8 million, a decrease in non-interest expenses, and an effective tax rate of 23.5%. Stockholders' equity increased to $6.2 billion, while HFI loans and total deposits also showed positive growth. Asset quality remained strong with low nonperforming assets and annualized net loan charge-offs. The Company's tangible book value per share increased by 13.8% year-over-year to $47.30.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.05%
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Rhea-AI Summary
Western Alliance Bancorporation (WAL) is set to announce its first quarter 2024 financial results on April 18, 2024. The conference call hosted by the President and CEO, Ken Vecchione, and Vice Chairman and CFO, Dale Gibbons, will take place on April 19, 2024, at 12:00 p.m. ET. Participants can join via phone or webcast, with a replay available until May 19, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.83%
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Rhea-AI Summary
KBRA assigns a BBB+ Issuer rating to Western Alliance Trust Company, N.A. (WATC), a subsidiary of Western Alliance Bancorporation (WAL), with a Stable Outlook. The rating reflects WATC's ownership by WAL and its favorable operating plan despite its short history and modest capitalization.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.58%
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none
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Rhea-AI Summary
Western Alliance Bank appoints Katie McDowell and Jon VanDerMeid to strengthen its Commercial and Industrial Banking team, focusing on Aerospace, Defense, and Government Services sectors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.44%
Tags
management
Rhea-AI Summary
Western Alliance Bank appoints Bret Rathwick and Michael Anthony as Vice Presidents in the Commercial and Industrial team, enhancing their capacity to serve the California market. Rathwick brings over 30 years of experience, while Anthony contributes nearly a decade of expertise.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.2%
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Rhea-AI Summary
Paulina Woo joins Western Alliance Bank as a senior director in treasury management, bringing 15 years of experience in investment advisory and treasury management consulting. She will lead teams to provide tailored banking solutions to municipalities, local governments, nonprofits, corporations, and institutional investors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.95%
Tags
management
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Rhea-AI Summary
Western Alliance Bancorporation (WAL) reported its fourth-quarter and full-year 2023 financial results. The company's net income was $147.9 million, with earnings per share of $1.33. The net interest margin was 3.65%, and the adjusted efficiency ratio was 59.1%. The company's stockholders' equity increased to $6.1 billion, and the tangible book value per share rose to $46.72. The company's CEO expressed confidence in the strong loan and deposit momentum, net interest income growth, and stable asset quality, positioning the company for leading profitability in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.48%
Tags
Rhea-AI Summary
Western Alliance Bancorporation (WAL) plans to release its Q4 and full year 2023 financial results on January 25, 2024, followed by a conference call on January 26, 2024, hosted by President and CEO Ken Vecchione and Vice Chairman and CFO Dale Gibbons. The call will be available via dial-in and live audio webcast, and a replay will be accessible until February 26, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.66%
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Western Alliance Bancorporation

NYSE:WAL

WAL Rankings

WAL Stock Data

6.85B
103.18M
1.6%
82.21%
4.56%
Commercial Banking
Finance and Insurance
Link
United States of America
PHOENIX

About WAL

western alliance bank serves customers in in arizona, california, and nevada. the company provides services to businesses, entrepreneurs, professionals, nonprofit organizations, high net worth individuals and other consumers seeking the robust product array of a national bank with the individual, personal attention of a community bank, delivered through a dedicated, local relationship manager.