Reports Q4 revenue $980.9M, consensus $913.87M. Reports Q4 tangible book value per share $61.29. Reports Q4 CET1 capital ratio 11%. Reports Q4 net charge-offs .31%."Western Alliance delivered exceptional results to close out 2025, highlighted by record net interest income, revenues, and PPNR. Outstanding loan and deposit growth, gathering strength in commercial banking non-interest income, improved efficiency, and a steady net interest margin were key factors behind our solid operating leverage and strong financial performance. These results position us to sustain a strong earnings trajectory in 2026," said Kenneth Vecchione, president and CEO. "Impressive quarterly loan growth of $2.0 billion boosted total assets to approximately $93 billion and PPNR by 35.4% annualized to $429 million. Asset quality remained steady as total criticized assets declined $8 million quarterly. Overall, we achieved earnings per share of $2.59 for the quarter, 32.8% higher than Q4 2024, which resulted in a return on assets of 1.23%, a return on tangible common equity1 of 16.9%, while tangible book value per share1 rose 17.3% year-over-year to $61.29."
Wall Street analysts forecast WAL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WAL is 101.38 USD with a low forecast of 85.00 USD and a high forecast of 115.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
Wall Street analysts forecast WAL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WAL is 101.38 USD with a low forecast of 85.00 USD and a high forecast of 115.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Buy
0 Hold
1 Sell
Strong Buy
Current: 88.420
Low
85.00
Averages
101.38
High
115.00
Current: 88.420
Low
85.00
Averages
101.38
High
115.00
Truist
John McDonald
Buy
maintain
$93 -> $98
2026-01-09
Reason
Truist
John McDonald
Price Target
$93 -> $98
AI Analysis
2026-01-09
maintain
Buy
Reason
Truist analyst John McDonald raised the firm's price target on Western Alliance to $98 from $93 and keeps a Buy rating on the shares. Bank earnings season begins next week, and SMID regional banks, having underperformed large banks in 2025, could benefit from curve steepening, resumed share buybacks, organic growth, and attractive valuation gaps to regain lost ground, the analyst tells investors in a research note.
TD Cowen
Buy
downgrade
$109 -> $108
2026-01-07
Reason
TD Cowen
Price Target
$109 -> $108
2026-01-07
downgrade
Buy
Reason
TD Cowen lowered the firm's price target on Western Alliance to $108 from $109 and keeps a Buy rating on the shares. The firm adjusted bank targets as part of a Q4 earnings preview. TD expects "solid" Q4 reports for the banks with continued balance sheet growth, repricing tailwinds, and a "likely more dovish" Federal Reserve chair in 2026. These "durable tailwinds" should lift bank stocks in 2026, the analyst tells investors in a research note.
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UBS
Nicholas Holowko
Buy
maintain
$105 -> $107
2026-01-06
Reason
UBS
Nicholas Holowko
Price Target
$105 -> $107
2026-01-06
maintain
Buy
Reason
UBS analyst Nicholas Holowko raised the firm's price target on Western Alliance to $107 from $105 and keeps a Buy rating on the shares. The firm adjusted targets in the mid-cap bank group as part of its 2026 outlook. UBS sees this year being a year of "catch up" for the group versus the large banks. Bank merger activity is "robust," the yield curve is steepening, loan growth is improving, and credit is "largely in check," the analyst tells investors in a research note. UBS is "cautiously optimistic" on the mid-cap bank space in 2026.
Barclays
Jared Shaw
Overweight
maintain
$112 -> $115
2025-12-19
Reason
Barclays
Jared Shaw
Price Target
$112 -> $115
2025-12-19
maintain
Overweight
Reason
Barclays analyst Jared Shaw raised the firm's price target on Western Alliance to $115 from $112 and keeps an Overweight rating on the shares. The firm adjusted targets in the mid-cap bank group as part of its 2026 outlook. More differentiation in loan growth and book value expansion is expected within the group next year, the analyst tells investors in a research note.
About WAL
Western Alliance Bancorporation is a bank holding company. It provides a full spectrum of customized loan, deposit and treasury management capabilities, including funds transfer and other digital payment offerings through its wholly owned banking subsidiary, Western Alliance Bank. It operates through its banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank. The Company also provides an array of specialized financial services to business customers across the country, including mortgage banking services through AmeriHome, treasury management services to the homeowner's association sector, and digital payment services for the class-action legal industry. It has two non-bank subsidiaries, such as CS Insurance Company (CSI) and Western Alliance Trust Company, N.A. (WATC). CSI is a captive insurance company. WATC provides corporate trust services and levered loan administration solutions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
