Western Alliance Bancorp: Preferred Shares Less Appealing (NYSE:WAL.PR.A)

Core Insights - Western Alliance Bancorporation (WAL) is a $91 billion bank holding company primarily serving the western U.S. states of California, Nevada, and Arizona [1] Company Overview - The company acquired preferred shares in 2023 during a banking panic, which led to depressed prices following the failure of certain banks [1] - The author of the article represents Winter Harbor Capital, a private fund that manages portfolios for individual and institutional clients [1] Investment Philosophy - The investment philosophy of the author emphasizes a value-oriented approach focused on intrinsic value and long-term opportunities, aiming for superior absolute returns over time [1] - The author has a background in micro and small capitalization research and private banking, with experience at Wasatch Advisors and J.P. Morgan Private Bank [1]