Top 5 Bank Stocks to Buy Now According to Analysts

4. Western Alliance Bancorporation (NYSE:WAL)

Number of Hedge Fund Holders: 41

Stock Upside Potential: 13.33%

Western Alliance Bancorporation (NYSE:WAL) is one of the top bank stocks to buy now according to analysts. Wall Street has a consensus Moderate Buy rating on Western Alliance Bancorporation (NYSE:WAL). A total of 41 hedge funds have positions in the stock.

On July 6, Western Alliance Bank, the primary subsidiary of Western Alliance Bancorporation, announced financing for Marble Manor Phase I, a 138‑unit mixed‑income housing project northwest of downtown Las Vegas. The package includes $31 million in tax‑exempt construction bonds, $2 million in taxable bonds, and $19.46 million in tax‑exempt permanent bonds, with R4 Capital Funding managing construction and permanent assets.

The development will feature five residential buildings with one‑ to five‑bedroom family rental homes. Thirty units will be market‑rate, while 108 will serve families earning 30–60% of the area median income. Plans also include 3,000 square feet of retail space and supportive services from the Southern Nevada Regional Housing Authority. Brinshore Development and SNRHA are co‑developers, Metcalf Builders is handling construction, and Enterprise Community Partners is providing $21.7 million in tax credit equity. HUD awarded a $53 million Choice Neighborhoods Grant, and construction began in April 2026.

Western Alliance has financed similar projects in Reno and Las Vegas. However, on July 2, Jefferies Financial (NYSE:JEF) filed suit alleging the bank unlawfully froze a $25 million account tied to Point Bonita Capital, sparking a legal dispute over losses linked to First Brands Group.

Western Alliance Bancorporation (NYSE:WAL), the holding company for Western Alliance Bank, offers a range of commercial and consumer banking services across Arizona, California, and Nevada.