Latest news with #WesternAlliance
Yahoo
4 days ago
- Business
- Yahoo
Western Alliance names JPMorgan vet its next CFO
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Dive Brief: Western Alliance has named Vishal Idnani its next chief financial officer, effective Jan. 2, 2026, the company said Thursday. Dale Gibbons, 64, who's been the Phoenix, Arizona-based bank's finance chief since 2003, will transition to a new role as vice chairman and chief banking officer for deposit initiatives and innovation at $85 billion-asset Western Alliance. Idnani, 40, has spent almost two decades at JPMorgan Chase, where he now serves as managing director in the financial institutions group at the lender's investment bank. He'll join Western Alliance in October. His initial annual salary will be $670,000, the bank said in a securities filing. Dive Insight: In his time at JPMorgan, Idnani has 'served as a trusted advisor to over 50 regional banks, including [Western Alliance],' the Arizona bank said Thursday. Western Alliance CEO Ken Vecchione has 'known and worked with Vishal since my return to the bank in 2017,' he said, adding that Idnani 'has been one of my most reliable and trusted outside advisors.' 'His proven ability to foster key stakeholder relationships with executive management and the Board showcases his capacity to drive strategic initiatives and deliver outstanding financial results,' Vecchione said. 'Enlisting a senior leader with an in-depth understanding of our strengths and appreciation of our culture gives me great confidence that he will be an exceptional asset to our leadership team and to Western Alliance as a whole.' Gibbons, who served as interim CEO from December to April while Vecchione was on medical leave, was CFO at Zions Bank prior to his time at Western Alliance, and worked at First Interstate Bank before that. 'Gibbons is regarded as one of the sharper CFOs among regional banks, and this move to an operating role could position him as a firmer candidate' to succeed Vecchione, Truist Securities analyst David Smith wrote Thursday. Vecchione lauded the role Gibbons has played for more than two decades at the bank. 'In recent years, Dale also has guided key deposit business units toward continued expansion,' Vecchione said. As Western Alliance seeks to advance its national commercial bank strategy, Gibbons will build on that deposit expansion strategy in his new role. He'll focus on organic deposit-generating business lines, particularly with corporate trust affiliate Western Alliance Trust Company, business escrow services, juris banking, digital assets, homeowners association banking and consumer digital segments, Western Alliance said. The company is giving Idnani a one-time restricted stock award of $700,000, set to vest over three years. Idnani will also receive a one-time cash relocation award of $250,000. Idnani's annual target bonus is 150% of his base salary, and his 2025 bonus payout is guaranteed at target, the bank said in the securities filing. His 2025 bonus payout above 100% will be prorated based on his hire date. In 2026, he's also eligible for an annual long-term incentive award with a grant value at target equal to 200% of his salary, the filing said; his 2026 long-term incentive grant is guaranteed at target. Earlier this week, the company said it was bringing all six of its bank brands under the Western Alliance name. Recommended Reading U.S. Bank names new CFO in C-suite shuffle Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
4 days ago
- Business
- Business Insider
Jefferies Sticks to Its Buy Rating for Western Alliance (WAL)
In a report released today, David Chiaverini from Jefferies maintained a Buy rating on Western Alliance, with a price target of $105.00. The company's shares opened today at $81.89. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Chiaverini is an analyst with an average return of -2.7% and a 46.97% success rate. Chiaverini covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, Huntington Bancshares, and M&T Bank. In addition to Jefferies, Western Alliance also received a Buy from D.A. Davidson's Gary Tenner in a report issued today. However, yesterday, Wells Fargo maintained a Hold rating on Western Alliance (NYSE: WAL). WAL market cap is currently $9.09B and has a P/E ratio of 11.63.
Yahoo
5 days ago
- Business
- Yahoo
Western Alliance (WAL) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Western Alliance (WAL) reported $856.1 million in revenue for the quarter ended June 2025, representing a year-over-year increase of 9.5%. EPS of $2.07 for the same period compares to $1.75 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $848.1 million, representing a surprise of +0.94%. The company delivered an EPS surprise of +1.47%, with the consensus EPS estimate being $2.04. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Western Alliance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Efficiency Ratio: 60.1% compared to the 58.5% average estimate based on four analysts. Net Interest Margin: 3.5% versus the four-analyst average estimate of 3.4%. Net charge-offs to average loans - annualized: 0.2% versus the four-analyst average estimate of 0.2%. Average Balance - Total interest earning assets: $80.53 billion versus $79.16 billion estimated by three analysts on average. Total non-interest income: $148.3 million versus $138.63 million estimated by four analysts on average. Service charges and fees: $36.9 million compared to the $39 million average estimate based on three analysts. Net interest income: $697.6 million versus the three-analyst average estimate of $689.28 million. Net gain on loan origination and sale activities: $39.4 million versus the three-analyst average estimate of $59.48 million. Other non-interest income: $8.3 million compared to the $15.06 million average estimate based on two analysts. Net Interest Income (FTE): $707.8 million versus the two-analyst average estimate of $703.17 million. Net loan servicing revenue: $38.3 million versus $24.72 million estimated by two analysts on average. View all Key Company Metrics for Western Alliance here>>> Shares of Western Alliance have returned +13.8% over the past month versus the Zacks S&P 500 composite's +4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Western Alliance Bancorporation (WAL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Business Wire
6 days ago
- Business
- Business Wire
Western Alliance Bancorporation Names Vishal Idnani as Next Chief Financial Officer
PHOENIX--(BUSINESS WIRE)-- Western Alliance Bancorporation (NYSE: WAL), one of the country's top-performing banking companies, today announced a planned transition in the Chief Financial Officer position, with Vishal Idnani joining the Company to assume the role of CFO and Dale Gibbons transitioning to a new leadership position focused on the Company's organic deposit strategy. Idnani will become Chief Financial Officer effective January 2, 2026, reporting to Western Alliance President and Chief Executive Officer Ken Vecchione. He will be based in Phoenix. Idnani joins Western Alliance with a wealth of financial services industry experience, having served as a trusted advisor to over 50 regional banks, including the Company, during two decades at J.P. Morgan. Idnani is currently serving as a Managing Director in the Financial Institutions Group at J.P. Morgan, with expertise in strategic financial operations including accounting, corporate finance, regulatory matters and deal-related execution to consistently achieve successful results. 'I have known and worked with Vishal since my return to the bank in 2017, and he has been one of my most reliable and trusted outside advisors. His proven ability to foster key stakeholder relationships with executive management and the Board showcases his capacity to drive strategic initiatives and deliver outstanding financial results,' said Vecchione. 'Enlisting a senior leader with an in-depth understanding of our strengths and appreciation of our culture gives me great confidence that he will be an exceptional asset to our leadership team and to Western Alliance as a whole.' Western Alliance Bancorporation's long-time Vice Chairman and CFO Dale Gibbons will transition to the new role of Vice Chairman and Chief Banking Officer, Deposit Initiatives and Innovation, enabling the organization to further prioritize its organic deposit-generating business lines, including Business Escrow Services, Western Alliance Trust Company, Juris Banking, Digital Assets, HOA Banking and Consumer Digital, while providing key oversight for other strategic Bank initiatives. Throughout his remarkable tenure as CFO since 2003, Gibbons has been instrumental to driving the Company's success by guiding the financial performance of the organization through its organic growth trajectory and navigating market cycles. Under Gibbons' guidance as CFO, Western Alliance has consistently achieved outstanding financial results, including Tangible Book Value Per Share (TBVPS) growth more than 7.5 times greater than peer banks since the end of 2014. His stellar professional accolades include earning #1 Best CFO rankings on Extel's/Institutional Investor's All-America Executive Team Midcap Banks for many years running. "For more than 20 years, Dale has played an invaluable role at Western Alliance, helping to shape our organization as one of the country's top-performing financial institutions,' added Vecchione. 'In recent years, Dale also has guided key deposit business units toward continued expansion, and I know he will continue to bring tremendous value to Western Alliance as Vice Chairman and Chief Banking Officer, Deposit Initiatives and Innovation, as we build on our exciting momentum and continue to advance our National Commercial Bank Strategy.' To learn more about Western Alliance Bank, visit About Western Alliance Bank With more than $85 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country's top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, clients benefit from a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by industry experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (previously Institutional Investor's) All-America Executive Team Midcap Banks 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bank. Forward-Looking Information This press release contains forward-looking statements that relate to expectations and beliefs concerning matters that are not historical facts, in particular relating to statements addressing the beliefs, plans, objectives or expectations of Western Alliance Bancorporation and Western Alliance Bank regarding future growth, success and strategy, and the quotations from Vecchione. These forward-looking statements are subject to various risks, uncertainties and assumptions that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements, including the risks and uncertainties described in Western Alliance Bancorporation's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Yahoo
01-07-2025
- Business
- Yahoo
Bank Stocks Near Record With Buyback, Dividend Boosts on Horizon
(Bloomberg) -- US bank stocks closed at their highest level in three years as investors continued to pile into the group amid speculation they will begin to boost buybacks and dividends after the lenders comfortably cleared the Federal Reserve's stress test last week. Struggling Downtowns Are Looking to Lure New Crowds Sprawl Is Still Not the Answer California Exempts Building Projects From Environmental Law The KBW Bank Index rose 1.5% Tuesday, closing at the highest level since February 2022 and under 4% from its early 2022 all-time high. The gauge posted a ninth consecutive day of gains, matching its longest winning streak on record. All but two of the gauge's 24 members were higher, led by Western Alliance Bancorp, East West Bancorp Inc. and Zions Bancorp NA. Tuesday's rally coincided with a breather for the broader market — which had closed at consecutive records — as investors rotated out of technology shares and into relatively safer pockets of the market. A basket of value stocks outperformed a basket of momentum stocks by nearly 2 percentage points, according to data compiled by Bloomberg. Banks headed into the week on strong footing after all lenders subjected to the Fed's annual stress tests passed comfortably, setting the stage for the group to boost buybacks and dividends for shareholders. The results showed 'much better than expected declines in stress capital buffers at all our banks,' JPMorgan Chase & Co. analysts including Vivek Juneja wrote in a note. 'Expect the large decrease in capital requirements to likely drive increased share buybacks at all the banks that saw a decrease.' Meanwhile, analysts at Raymond James anticipate total payouts to 'modestly increase,' adding that they 'view the stress test results to be a net positive and should garner increasing investor interest in the sector.' With quarterly earnings ahead, the easing of bank capital rules upcoming, loosening regulations and elevated interest rates at play US banking stocks are primed to keep ripping higher. Hedge funds are also see further room to run, snapping up shares at a furious pace. It's the rebound that many investors had been waiting for following President Donald Trump's November reelection, which many expected to usher in a wave of banking deregulation and pro-business policies. That was before he unleashed a global trade war in April that briefly knocked the industry off course. The 'results of this year's stress test is more evidence that this period is the most positive regulatory change for banks in 3 decades,' Wells Fargo analyst Mike Mayo wrote in a note. Goldman Sachs was the big test winner, along with JPMorgan, Bank of America and M&T Bank Corp, he said. (Updates with closing shares.) SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too America's Top Consumer-Sentiment Economist Is Worried How to Steal a House China's Homegrown Jewelry Superstar Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ©2025 Bloomberg L.P. Sign in to access your portfolio
