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WAL-P-A

WESTERN ALLIANCE BANCORPORATION · Series A · Banks
Also quoted as: WAL-A, WALprA, WAL.PRA, WAL-PA, WALpA
$23.91
last price

About this security

WAL-P-A is a 4.25% non-cumulative perpetual preferred stock issued by WESTERN ALLIANCE BANCORPORATION, a Banks issuer. $25 liquidation preference, current yield 4.44%, callable from 2026-09-30.

WESTERN ALLIANCE BANCORPORATION: . Organization Structure and Description of Services WAL is a bank holding company headquartered in Phoenix, Arizona, incorporated under the laws of the state of Delaware. WAL 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, WAB. Effective as of October 4, 2025, the Company completed its brand unity initiative, consolidating its legacy division bank brands: ABA, BON, FIB, Bridge, and TPB, under a single unified name, Western Alliance Bank. The Company also serves business customers through a national platform of specialized financial services, including mortgage banking services through AmeriHome and digital payment services for the class action legal industry. In addition, the Company has the following non-bank subsidiaries: CSI, a captive insurance company formed and licensed under the laws of the state of Arizona and established as part of the Company's overall enterprise risk management strategy and WATC, which provides corporate trust services and levered loan administration solutions. WAL also has unconsolidated subsidiaries used as business trusts in connection with issuance of trust-preferred securities as described in "Note 12. Qualifying Debt" in Item 8 of this Form 10-K. ↗

Issuer page — all WESTERN ALLIANCE BANCORPORATION securities & profile →

Key Stats ✓ terms from SEC filing — verify via link below ✓ verified against SEC filing

live page · rendered 05:20:30 UTC · refreshes from the market feed on each visit · last SEC-verified 2026-06-16
Current Yield
4.44%
Annual Dividend
$1.0625
Recent Market Price
$23.91
as of 2026-06-16
Disc/Prem to Par (→ screen)
-4.34% (−$1.08)
Recent Ex-Date
2026-06-15
Pay Frequency
quarterly
Cumulative
No
Original Coupon
4.250%
Call Date
2026-09-30
Yield to Call
19.78%
Yield to Worst
4.44%
Liq. Preference
$25.00
Maturity
Perpetual
Redeemable
Yes
Convertible
No
Floating Rate
five-year treasury rate + 3.452%
Pay Dates
March 30, June 30, September 30, December 30
Shares Offered (original)
12,000,000
Issued
2021-09-22
Series
A
Alt. Symbology
WAL-A, WALprA, WAL.PRA, WAL-PA, WALpA

vs. Banks category (76 issues): yield 4.44% vs avg 6.66% · discount -4.3% vs avg -13.3%

Quote

 WAL-P-A (preferred)WAL (common)
Last $23.91 $83.67
Change — —
Open$24.05$83.09
High / Low $24.06 / $23.90 $84.49 / $82.89
Prev Close——
Volume21,0551,110,851
52-Week High / Low $25.00 / $20.59 $97.23 / $65.81

52-week range based on available history. Shares outstanding / market cap require a fundamentals feed (not in current data plan).

Price

● WAL-P-A ● WAL (common)

Dividend History

Ex-DateAmount / Share
2026-06-15$0.265625
2026-03-13$0.265625
2025-12-15$0.265625
2025-09-15$0.265625
2025-06-13$0.265625
2025-03-14$0.265625
2024-12-17$0.265625
2024-09-13$0.265625
2024-06-14$0.265625
2024-03-14$0.265625
2023-12-14$0.265625
2023-09-14$0.265625

Performance — $10K Calculator

See what an investment in WAL-P-A would be worth today, dividends reinvested.

Dividends reinvested (DRIP) at the close on each ex-date. Full performance page →

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Prospectus (SEC 424B5)

We are offering 12,000,000 depositary shares, each representing a 1/400th ownership interest in a share of our 4.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.0001 per share (the "Series A preferred stock"), with a liquidation preference of $25.00 per depositary share (equivalent to $10,000 per share of Series A preferred stock).

Use of proceeds: Net proceeds will be used for general corporate purposes, including supporting growth and capital adequacy and the potential redemption of $175 million of 6.25% subordinated debentures due July 1, 2056.

Full Prospectus (SEC filing) →

News — WESTERN ALLIANCE BANCORPORATION

Issuer news via Tiingo, tagged to WAL.

Related Articles

About this site

This site tracks preferred stocks and baby bonds — investments that pay regular, scheduled dividends. Every figure shown is drawn from companies' SEC filings and live market quotes.

What you're looking at
A preferred stock sits between a common stock and a bond. It usually trades near a $25 face value and pays a fixed dividend on a set schedule. Baby bonds are similar, but they are debt that matures on a stated date.
Income & dividends
Current YieldAnnual income ÷ today's price — what you'd actually earn buying now. The headline income number.
Annual Dividend / InterestTotal cash paid per share each year. A preferred pays a "dividend"; a baby bond pays "interest."
Original CouponThe annual rate set when it was issued, as a % of par (6% of $25 = $1.50/yr). Fixed stays put; floating/reset rates change later.
Pay FrequencyHow often it pays — usually quarterly, sometimes monthly or twice a year.
Recent Ex-DateOwn it before this date to receive the next payment; buy on or after and you miss that one.
Price & value
Recent Market PriceThe latest market quote, delayed at least 20 minutes.
Liquidation Preference (Par)Face value — almost always $25 (some are $50, $100, or $1,000). What you're owed if the company winds down, and the price it can be redeemed at.
Disc / Prem to ParHow far the price sits below par (a discount) or above it (a premium). A discount can add return if it's redeemed at par; a premium is what you'd lose if it is.
Call & redemption
Call DateThe first date the issuer may redeem (buy back) the share at par. Before it you're protected; after it, it can be called at any time.
RedeemableWhether the issuer has the right to buy it back at all.
Yield to CallYour annual return if bought today and redeemed at par on the call date. If it's below the current yield, a call would cost you.
Yield to WorstThe lowest of the possible outcomes (to call, to maturity, or simply held) — the cautious yield to judge by.
Dividend terms & structure
CumulativeIf a payment is skipped, a cumulative issue still owes it (and must catch up before any common dividend); a non-cumulative one does not.
Interest DeferrableOn some baby bonds the issuer may postpone interest for a period — common on junior subordinated notes.
Floating / Reset RateThe rate isn't fixed forever — after a set date it resets to a benchmark (e.g. 3-month SOFR or the 5-year Treasury) plus a spread.
MaturityFor a baby bond, the date the principal is repaid. Most preferreds are perpetual — no maturity.
ConvertibleWhether it can turn into the company's common stock. "Change-of-control conversion" means that right applies only if the company is taken over.
Conversion Price / RatioFor convertibles, the price or number of common shares each unit converts into.
SeriesThe class label from the SEC filing (e.g. Series A). Note: it can differ from the ticker letter.
IssuedThe date the security first settled — when it came to market.
Shares OfferedHow many shares (or depositary shares) were sold in the original offering.
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