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

Western Alliance Bancorporation ( WAL ) is a $91 billion bank holding company primarily serving the western U.S. states of California, Nevada, and Arizona. We acquired the company's preferred shares in 2023 during the banking panic, which depressed prices in the aftermath of the failureThe author writes on behalf of Winter Harbor Capital, a private fund, and oversees private portfolios for individual and institutional clients. The author founded an investment company in 1995 with the view that a value orien ...