Cullen/Frost Bankers (CFR) vs Western Alliance Bancorporation (WAL)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Cullen/Frost Bankers (CFR) has outperformed Western Alliance Bancorporation (WAL) over the past year, gaining 19.5% versus a loss of 8.3%. Over five years, CFR leads with a +23.2% price change compared with -34.0% for WAL. Cullen/Frost Bankers is the larger company by market cap ($9.47 billion vs $8.24 billion), about 1.1 times the size, while Western Alliance Bancorporation is growing revenue faster (+99.7% vs +8.3%).
On valuation, Western Alliance Bancorporation trades at a lower forward P/E (6.8x vs 12.7x for Cullen/Frost Bankers). Cullen/Frost Bankers offers the higher dividend yield (2.65% vs 2.17%). Western Alliance Bancorporation converts more of its revenue into profit, with a net margin of 713.5% versus 29.0%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CFR | WAL |
|---|---|---|
| Share price | $152.36 | $75.50 |
| Market cap | $9.47B | $8.24B |
| 1-day change | +1.32% | +1.55% |
| YTD return | +20.32% | -10.19% |
| 1-year return | +19.53% | -8.32% |
| 5-year return | +23.21% | -33.99% |
| P/E ratio (TTM) | 14.21 | 8.52 |
| Forward P/E | 12.74 | 6.77 |
| EPS (TTM) | $10.72 | $8.86 |
| Dividend yield | 2.65% | 2.17% |
| Annual dividend | $4.03 | $1.64 |
| Revenue (latest FY) | $2.24B | $135.80M |
| Revenue growth (YoY) | +8.31% | +99.71% |
| Net income (latest FY) | $648.56M | $969.00M |
| Net margin | 29.02% | 713.55% |
| 52-week high | $170.80 | $97.23 |
| 52-week low | $119.00 | $65.82 |
| Distance from 52-week high | -10.80% | -22.35% |
| Analyst consensus | hold | buy |
| Avg. price target upside | +13.78% | +21.52% |
| Average volume | 539.26K | 1.07M |
| Shares outstanding | 62.15M | 109.10M |
| Employees | 6,008 | 3,769 |
| Sector | Financial Services | Finance |
| Industry | Banks - Regional | Major Banks |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- CFR has outperformed WAL by 27.8 percentage points over the past year.
- Cullen/Frost Bankers trades at a higher earnings multiple (14.2x vs 8.5x trailing P/E).
- Western Alliance Bancorporation is more profitable, keeping 713.5 cents of every revenue dollar as net income versus 29.0 cents for Cullen/Frost Bankers.
- Western Alliance Bancorporation grew revenue faster in its latest fiscal year (+99.71% vs +8.31%).
- The two companies sit in different sectors: Cullen/Frost Bankers in Financial Services and Western Alliance Bancorporation in Finance.
About Cullen/Frost Bankers
CFR stock →Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas.
Financial Services · Banks - Regional · 6,008 employees
About Western Alliance Bancorporation
WAL stock →Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments.
Finance · Major Banks · 3,769 employees
CFR vs WAL FAQ
Which is bigger, Cullen/Frost Bankers or Western Alliance Bancorporation?
Cullen/Frost Bankers (CFR) is larger, with a market capitalization of $9.47B compared with $8.24B for Western Alliance Bancorporation (WAL).
Which stock has performed better over the past year, CFR or WAL?
CFR returned +19.53% over the past 12 months, compared with -8.32% for WAL (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CFR or WAL?
WAL has the lower trailing P/E at 8.5, versus 14.2 for CFR. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Cullen/Frost Bankers or Western Alliance Bancorporation?
Cullen/Frost Bankers has the higher yield at 2.65%, compared with 2.17% for Western Alliance Bancorporation.
Are Cullen/Frost Bankers and Western Alliance Bancorporation in the same industry?
No. Cullen/Frost Bankers is in the Financial Services sector, while Western Alliance Bancorporation is in Finance.