$Western Alliance(WAL)$
regional banks like these take the pressure off of central banking institutions, and as such they are invaluable in creating liquidity and access despite internet banking.
the stability of regional financial institutions is very high in demand, especially in the wake of failed systems like crypto (though we undoubtedly will see highs appearing soon again).
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wow... one of the best trades ive done this year, im at an average of about $24. well over 100% on this one. at a PE of 6 i still cant see myself selling even a portion of my position.
WAL reached $46.83 after earnings, and the calls went from $2.20 (when I wrote this article) to $6.90, resulting in a beautiful 3.10X gain!
The WALpa preferreds have been moving up along with WAL. If WALpa breaks 16 and holds it will be looking at a 20 price target {if earnings continue to hold up}. The bigger dividend is a plus on the preferreds along with more secure payment of. Looking for 16 support level to hold with a 20 price target to the upside, plus the dividend.
The rampant short selling in the sector needs to be checked this month, all of the regional banks are manipulated lower because of it.
Check it out. WAL is over $50.