Western Alliance Stock Price, News & Analysis

Western Alliance Bancorporation (NYSE: WAL) will release its Q1 2023 financial results post-market on April 18, 2023. The conference call, hosted by President Kenneth Vecchione and CFO Dale Gibbons, is set for 12:00 p.m. ET on April 19, 2023. Key financial data as of March 31, 2023 shows that insured deposits account for 68% of total deposits, with available liquidity exceeding uninsured deposits at a ratio over 140%. There are also notable improvements in unrealized losses on securities and loans since year-end, indicating strengthened financial health.

Western Alliance Bancorporation (NYSE: WAL) reaffirms its financial strength amid recent market challenges. As of March 16, 2023, it holds over $20 billion in immediate liquidity and over 55% of its deposits are insured. Following a spike in net deposit outflows after the Signature Bank closure, the bank reported a normalization of deposit levels, with notable inflows and new accounts. Strong capital metrics include a year-end 2022 CET1 ratio of 9.3%, which stands above the required thresholds even after accounting for unrealized losses. The bank benefits from a diversified customer base across various industries, enhancing its deposit resilience.

Western Alliance Bank (NYSE: WAL) has strengthened its liquidity position amid recent industry events, as indicated in its updated Form 8-K filing. The bank's cash reserves exceed $25 billion and insured deposits surpass 50% of total deposits. The bank's CET1 capital ratio, reflecting unrealized losses, stands at approximately 7.9% as of December 31, 2022, which is competitive compared to its peers. No securities have been sold to date, and the bank remains committed to meeting client funding needs. These measures follow a supportive statement from banking agencies reaffirming confidence in the banking industry's strength.

Western Alliance Bank (NYSE: WAL) reports strong deposit growth, with total deposits of $61.5 billion as of March 9, 2023, up $7.8 billion from year-end, with expectations of moderate decline by quarter-end. Liquidity remains robust with $2.5 billion in cash, $13.1 billion in credit facilities, and $5.3 billion in marketable securities despite a $383 million adverse mark. Capital is strong with CET1 projected to rise to 9.5% or higher, and asset quality remains excellent. The company maintains a full-year deposit growth guidance of 13% – 17%.

Western Alliance Bancorporation (NYSE: WAL) reported strong financial results for Q4 and FY 2022, achieving a record net income of $293.0 million and earnings per share of $2.67 for the quarter, a 15.1% increase year-over-year. For the full year, net income reached $1.1 billion, with a 30.1% increase in net revenue to $2.5 billion. Despite a 3.5% decline in deposits to $53.6 billion, the company saw a 6.4% rise in tangible book value per share to $40.25. The efficiency ratio improved to 46.9%. However, quarterly deposits declined significantly due to seasonal factors, though this trend reversed in early 2023.

Western Alliance Bancorporation (NYSE: WAL) will announce its fourth quarter and full year 2022 financial results after market hours on January 24, 2023. A conference call with Ken Vecchione, President and CEO, and Dale Gibbons, Vice Chairman and CFO, will take place on January 25, 2023, at 12:00 p.m. ET to discuss performance. Investors can listen to the call by dialing 1-844-200-6205 or via a live audio webcast accessible on the company’s website. The call will be recorded and available for replay until February 25, 2023.