Western Alliance Bancorporation (NYSE:WAL) Posts Quarterly Earnings Results

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) released its quarterly earnings data on Monday. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.01, Zacks reports. The business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter last year, the company earned $1.72 EPS.

Western Alliance Bancorporation Price Performance

Shares of WAL traded down $1.05 during trading hours on Friday, hitting $69.75. 810,046 shares of the company were exchanged, compared to its average volume of 1,219,557. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The company has a market capitalization of $7.70 billion, a PE ratio of 9.82, a PEG ratio of 0.63 and a beta of 1.29. The firm has a fifty day simple moving average of $74.54 and a 200-day simple moving average of $83.32. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.18%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WAL. Barclays cut their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Piper Sandler lifted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus target price 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.