Western Alliance Bancorporation (NYSE:WAL) Plans $0.42 Quarterly Dividend

Key Points

• Western Alliance Bancorporation declared a quarterly dividend of $0.42 per share, payable August 27 to shareholders of record on August 13. The dividend implies an annualized payout of $1.68 and a 2.1% yield.
• The bank has increased its dividend for five consecutive years, while its payout ratio remains low at 15.9%, suggesting earnings provide substantial coverage for the dividend.
• Western Alliance reported second-quarter EPS of $2.36, in line with expectations, while revenue of $995.7 million exceeded estimates and rose 17.7% year over year. Shares recently traded at $80.53, below their 12-month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Investors of record on Thursday, August 13th will be paid a dividend of 0.42 per share by the financial services provider on Thursday, August 27th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, August 13th.

Western Alliance Bancorporation has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 5 years. Western Alliance Bancorporation has a dividend payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Western Alliance Bancorporation to earn $11.29 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 14.9%.

Western Alliance Bancorporation Stock Performance

WAL traded down $0.72 on Friday, hitting $80.53. 602,296 shares of the company traded hands, compared to its average volume of 1,206,940. The company has a 50 day moving average of $80.96 and a 200-day moving average of $80.97. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $8.79 billion, a PE ratio of 9.07, a PEG ratio of 0.78 and a beta of 1.34. Western Alliance Bancorporation has a 12-month low of $65.82 and a 12-month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, hitting analysts' consensus estimates of $2.36. The company had revenue of $995.70 million during the quarter, compared to analysts' expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $2.07 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company's core offerings include deposit products, treasury management and a variety of lending services.

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