Western Alliance Stock Price, News & Analysis

AudioEye (AEYE) has secured a new $20 million loan facility with Bridge Bank, featuring a significant 6.5% interest rate reduction from their previous facility. The package includes a $12 million term loan, $3 million revolver, and $5 million delayed draw term loan for potential acquisitions.

The initial term loan will fully repay AudioEye's existing loan from November 2023 and strengthen their cash position. The company expects a 42% year-over-year increase in adjusted EBITDA based on previous guidance midpoint. The facility will mature in five years and provides additional flexibility for strategic opportunities.

KBRA has assigned a BBB preferred stock rating to BW Real Estate, Inc., a majority-owned REIT subsidiary of Western Alliance Bank (NYSE: WAL). The rating is primarily based on Western Alliance Bank's current long-term ratings and the instrument's Conditional Exchange feature.

Key highlights from Western Alliance's performance include:

• FY24 core ROA of approximately 1%
• Total deposits reached $66 billion at YE24, up $11 billion year-over-year
• CET1 capital ratio increased to 11.3% at YE24
• Enhanced earning asset liquidity position
• Reduced select loan exposures in transactional areas

The bank has demonstrated positive trends in core deposit flows and internal core capital generation since the March 2023 industry funding challenges. While utilizing brokered deposits and reciprocals, WAL has also attracted meaningful core balances from new and existing commercial customers.

Western Alliance Bancorporation (WAL) reported strong Q4 2024 financial results with net income of $216.9 million and earnings per share of $1.95, up 46.6% from Q4 2023. The company achieved a return on tangible common equity of 14.6%, while tangible book value per share increased 11.9% year-over-year to $52.27.

Key Q4 metrics include:

• Net interest margin: 3.48%
• Efficiency ratio: 61.2%
• Pre-provision net revenue: $319.4 million
• Total deposits: $66.3 billion (down $1.7 billion quarterly)
• HFI loans: $53.7 billion (up $330 million quarterly)

For full-year 2024, WAL reported net income of $787.7 million with EPS of $7.09, up 8.4% from 2023. The company maintained strong asset quality with net charge-offs to average loans at 0.18% for the year and a non-performing assets ratio of 0.65%.

Western Alliance Bank (NYSE: WAL) has announced a significant dual initiative to support communities affected by the Southern California wildfires. The bank is making a $100,000 donation to the American Red Cross, which includes employee contributions matched by the bank through the Western Alliance Community Foundation.

In addition to immediate relief efforts, Western Alliance has committed $1 billion in loan capacity specifically targeted at supporting small businesses and homeowners with owner-occupied construction loans to assist in rebuilding impacted areas. Interim CEO and CFO Dale Gibbons emphasized the bank's deep connection to Southern California, where it employs thousands and serves numerous customers across the affected region.

Western Alliance Bancorporation (NYSE: WAL) has scheduled the release of its fourth quarter and full year 2024 financial results after market close on Monday, January 27, 2025. A conference call to discuss the company's performance will be held the following day, Tuesday, January 28, 2025, at 12:00 p.m. ET.

The call will be hosted by Dale Gibbons, interim CEO and CFO, along with Chief Banking Officers Tim Bruckner and Steve Curley. Participants can join via phone (1-833-470-1428, access code: 383154) or through a live audio webcast. A replay will be available from January 28th after 3:00 p.m. ET until February 27th at 1:00 p.m. ET.

Western Alliance Bancorporation (NYSE:WAL) has received top honors in Extel's 2024 All-America Executive Team rankings for Midcap Banks. Kenneth A. Vecchione, President and CEO, and Dale Gibbons, Vice Chairman and CFO, were named Best CEO and Best CFO respectively. The company's Board of Directors secured First Place for Best Company Board, while the Investor Relations team, led by Miles Pondelik, was also recognized among top industry professionals.

This recognition continues WAL's strong performance in these rankings, having achieved similar distinctions in 2023 and 2022. The 2024 rankings were based on surveys of 979 portfolio managers, buy-side analysts, and 151 sell-side analysts. Among 570 companies receiving votes, only 160 achieved rankings in categories including Best IR Program, CEO, CFO, IR Professional, Investor Day, Company Board, and ESG. WAL was named among the 'Most Honored Companies' due to its leadership's high rankings.

Western Alliance Bancorporation (NYSE: WAL) has announced its participation in the upcoming BancAnalysts Association of Boston Conference. President and CEO Kenneth Vecchione will present on Thursday, November 7, 2024 at 3:50 pm ET. The presentation will be available via webcast, with a recorded replay accessible on the company's Investor Relations website for 90 days following the event.

Western Alliance Bancorporation (NYSE:WAL) reported its third quarter 2024 financial results. The company achieved a net income of $199.8 million, with earnings per share (EPS) of $1.80. Key metrics include a net interest margin of 3.61%, and a tangible book value per share of $51.98, rising 19.1% year-over-year. Total deposits increased by $1.8 billion to $68.0 billion, while HFI loans grew by $916 million to $53.3 billion. The efficiency ratio stood at 52.7%, adjusted for deposit costs. Asset quality remained stable with nonperforming assets at 0.45% of total assets and net loan charge-offs at 0.20% of average loans. Net interest income rose to $696.9 million, up 6.1% from the prior quarter. Non-interest income increased to $126.2 million, driven by higher service charges and loan fees. However, non-interest expenses also rose to $537.4 million, primarily due to increased deposit costs. The CET1 ratio improved to 11.2%, and the tangible common equity ratio increased to 7.2%.

Western Alliance Bancorporation (NYSE: WAL) has announced the release date for its third quarter 2024 financial results. The company will publish its results after market close on Thursday, October 17, 2024. A conference call and webcast are scheduled for Friday, October 18, 2024, at 12:00 p.m. ET, hosted by President and CEO Ken Vecchione and Vice Chairman and CFO Dale Gibbons.

Participants can join the call by dialing 1-833-470-1428 (access code: 586867) or via live audio webcast. The webcast link and additional access options are available on the company's website. Attendees are advised to log in 15 minutes early. A replay of the call will be accessible from October 18th after 3:00 p.m. ET until November 17th at 11:59 p.m. ET by dialing 1-866-813-9403 (access code: 196595).