Sifting through countless of stocks in the Banks industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in First Hawaiian, Inc. or Western Alliance Bancorporation because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how First Hawaiian, Inc. and Western Alliance Bancorporation compare based on key financial metrics to determine which better meets your investment needs.

About First Hawaiian, Inc. and Western Alliance Bancorporation

First Hawaiian, Inc. operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in two segments: Retail Banking and Commercial Banking. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts. It also provides residential and commercial mortgage loans, home equity lines of credit and loans, automobile loans and leases, secured and unsecured lines of credit, installment loans, small business loans and leases, as well as commercial lease and auto dealer financing services. In addition, the company offers wealth management, personal installment, individual investment and financial planning, insurance protection, trust and estate, private banking, investment management, retirement planning, and credit card and merchant processing services, as well as consumer and commercial credit cards processing services. Further, the company provides commercial and industrial lending, such as auto dealer flooring, commercial real estate lending, and construction lending services. It offers its products through branch, online, and mobile distribution channels. The company was formerly known as BancWest Corporation and changed its name to First Hawaiian, Inc. in April 2016. First Hawaiian, Inc. was founded in 1858 and is headquartered in Honolulu, Hawaii.

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. The company offers deposit products, including demand deposit, checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors; and residential mortgage products and services. It also provides commercial and industrial loan products, such as working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multifamily residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multifamily residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. In addition, the company offers other financial services, such as internet banking, wire transfers, electronic bill payment and presentment, funds transfer and other digital payment offerings, lock box services, courier, and cash management services. Further, the company holds certain investment securities, municipal and non-profit loans, and leases; invests primarily in low-income housing tax credits and small business investment corporations; and certain real estate loans and related securities. Western Alliance Bancorporation was founded in 1994 and is headquartered in Phoenix, Arizona.

Latest Banks and First Hawaiian, Inc., Western Alliance Bancorporation Stock News

As of September 2, 2026, First Hawaiian, Inc. had a $3.1 billion market capitalization, compared to the Banks median of $750.0 million. First Hawaiian, Inc.’s stock is up 2.8% in 2026, up 0.7% in the previous five trading days and up 0.23% in the past year.

Currently, First Hawaiian, Inc.’s price-earnings ratio is 11.2. First Hawaiian, Inc.’s trailing 12-month revenue is $881.1 million with a 32.3% net profit margin. Year-over-year quarterly sales growth most recently was 6.0%. Analysts expect adjusted earnings to reach $2.348 per share for the current fiscal year. First Hawaiian, Inc. currently has a 4.0% dividend yield.

As of September 2, 2026, Western Alliance Bancorporation had a $8.5 billion market cap, putting it in the 75th percentile of all stocks. Western Alliance Bancorporation’s stock is down 3.7% in 2026, up 2.9% in the previous five trading days and down 11.06% in the past year.

Currently, Western Alliance Bancorporation’s price-earnings ratio is 8.9. Western Alliance Bancorporation’s trailing 12-month revenue is $3.5 billion with a 28.2% net profit margin. Year-over-year quarterly sales growth most recently was 13.6%. Analysts expect adjusted earnings to reach $8.910 per share for the current fiscal year. Western Alliance Bancorporation currently has a 2.1% dividend yield.

How We Compare First Hawaiian, Inc. and Western Alliance Bancorporation Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at First Hawaiian, Inc. and Western Alliance Bancorporation’s stock grades to see how they measure up against one another.

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First Hawaiian, Inc. and Western Alliance Bancorporation Stock Value Grades

Company	Ticker	Value
First Hawaiian, Inc.	FHB	B
Western Alliance Bancorporation	WAL	A

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

First Hawaiian, Inc. has a Value Score of 77, which is Value. Western Alliance Bancorporation has a Value Score of 84, which is Deep Value.

The Value Stock Winner: Western Alliance Bancorporation

As you can clearly see from the Value Grade breakdown above, Western Alliance Bancorporation is considered to have better value than First Hawaiian, Inc.. For investors who focus solely on a company’s valuation, Western Alliance Bancorporation could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

First Hawaiian, Inc. and Western Alliance Bancorporation’s Momentum Grades

Company	Ticker	Momentum
First Hawaiian, Inc.	FHB	D
Western Alliance Bancorporation	WAL	D

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

First Hawaiian, Inc. has a Momentum Score of 34, which is Weak. Western Alliance Bancorporation has a Momentum Score of 31, which is Weak.

The Momentum Stock Winner: No Clear Winner

Neither First Hawaiian, Inc. or Western Alliance Bancorporation has a strong enough Momentum Grade to be considered a “winner.” Investors considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if First Hawaiian, Inc. or Western Alliance Bancorporation is the better investment when it comes to momentum.

First Hawaiian, Inc. and Western Alliance Bancorporation’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
First Hawaiian, Inc.	FHB	C
Western Alliance Bancorporation	WAL	D

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

First Hawaiian, Inc. has a Earnings Estimate Score of 50, which is Neutral. Western Alliance Bancorporation has a Earnings Estimate Score of 25, which is Negative.

The Earnings Estimate Revisions Stock Winner: No Clear Winner

Neither First Hawaiian, Inc. or Western Alliance Bancorporation has an Earnings Estimate Revisions Grade that could be considered a “winner.” Investors considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if First Hawaiian, Inc. or Western Alliance Bancorporation is the better investment when it comes to estimate revisions.

Other First Hawaiian, Inc. and Western Alliance Bancorporation Grades

In addition to Value, Estimate Revisions and Momentum, A+ Investor also provides grades for Growth and Quality.

Growth investing builds on the idea that stocks of companies exhibiting strong, consistent and prolonged growth outperform those of slower-growth companies. AAII measures growth through consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations.

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether First Hawaiian, Inc. and Western Alliance Bancorporation pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, First Hawaiian, Inc. or Western Alliance Bancorporation Stock?

Overall, First Hawaiian, Inc. stock has a Value Score of 77, Momentum Score of 34 and Estimate Revisions Score of 50.

Western Alliance Bancorporation stock has a Value Score of 84, Momentum Score of 31 and Estimate Revisions Score of 25.

Comparing First Hawaiian, Inc. and Western Alliance Bancorporation’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.