Western Alliance Bancorporation (NYSE:WAL) Declares $0.38 Quarterly Dividend

Key Points

• Western Alliance Bancorporation declared a quarterly dividend of $0.38 per share, with the payment date set for August 29th for shareholders on record by August 14th.
• The company reported $2.07 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $2.04, and anticipates a future EPS of 9.05 for the current fiscal year.
• Analyst ratings for Western Alliance Bancorporation are positive, with a consensus rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) announced a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Shareholders of record on Thursday, August 14th will be given a dividend of 0.38 per share by the financial services provider on Friday, August 29th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, August 14th.

Western Alliance Bancorporation has a payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Western Alliance Bancorporation to earn $10.44 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 14.6%.

Western Alliance Bancorporation Stock Performance

NYSE:WAL traded up $1.14 during mid-day trading on Monday, hitting $77.47. The company's stock had a trading volume of 668,779 shares, compared to its average volume of 1,124,080. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.81. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.53 and a beta of 1.33. The business's fifty day moving average is $77.91 and its two-hundred day moving average is $78.06.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The business had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. During the same period in the prior year, the company posted $1.75 EPS. Analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on WAL shares. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Stephens reiterated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. DA Davidson increased their price objective on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 21st. Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, July 21st. Finally, Royal Bank Of Canada dropped their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Company Profile

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 checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.

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