Long Position on WAL @ $36.00 on 3/30/2023 (Fundamentals)

Western Alliance Bancorporation (WAL) operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. 

The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.

It also offers commercial and industrial loan products, such as working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. 

This stock sold-off unfairly along with the rest of regional banks following the failure of Silicon Valley Bank. Now shares have formed a "Rounding Bottom" and are expected to move higher from current levels. On January 24th, WAL reported Quarter December 2022 earnings of $2.67 per share on revenue of $949.9 million. The consensus earnings estimate was $2.67 per share on revenue of $724.3 million.

Entry Point: $36.00

Trading Range: $7.46 to $87.25

Stop Loss: $34.00

Target Price: $39.90

Position closed on 4/4/2023 at price of $34.00 with a -5.56% loss in 5 days.

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