Western Alliance Bancorporation (NYSE:WAL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Western Alliance Bancorporation beat quarterly earnings expectations, reporting EPS of $2.45 versus the $2.42 consensus estimate. The company posted a 13.40% return on equity and a 17.20% net margin.
• Shares fell $0.92 to $73.59 during Monday trading, below their 50-day and 200-day moving averages. The stock has traded between $65.82 and $97.23 over the past year.
• The bank paid a quarterly dividend of $0.42, equivalent to $1.68 annually and a 2.3% yield. Analysts maintain a Moderate Buy consensus, with an average price target of $92.18.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) issued its quarterly earnings data on Monday. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.03, Zacks reports. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.

Western Alliance Bancorporation Price Performance

WAL stock traded down $0.92 during trading on Monday, reaching $73.59. 1,492,212 shares of the company were exchanged, compared to its average volume of 1,181,758. The stock's 50 day moving average price is $78.14 and its 200 day moving average price is $79.11. The company has a market cap of $8.03 billion, a P/E ratio of 8.29, a PEG ratio of 0.76 and a beta of 1.42. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a $0.42 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 18.92%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada cut their target price on shares of Western Alliance Bancorporation from $95.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, October 9th. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Stifel Nicolaus set a $95.00 price objective on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd. Finally, Stephens set a $95.00 target price on shares of Western Alliance Bancorporation and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.18.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation NYSE: WAL is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs, and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, construction loans, residential mortgage warehouse lending, and consumer banking services. Its deposit products include checking, savings, money market, and time deposit accounts, while its other services include treasury management, online banking, payments, and wealth management solutions.

The bank serves customers through a combination of regional banking divisions and specialized businesses, with operations focused on markets including Arizona, California, and Nevada as well as nationwide industry-based lending and financial services.

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