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 in Commercial, Consumer Related, and Corporate & Other 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; and treasury management and residential mortgage products and services. It also offers 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 multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. In addition, the company provides other financial services, such as internet banking, wire transfers, electronic bill payment and presentment, lock box services, courier, and cash management services. Further, it 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 holds certain real estate loans and related securities. The company operates 36 branch locations, as well as loan production offices. Western Alliance Bancorporation was founded in 1994 and is headquartered in Phoenix, Arizona.
Western Alliance Bancorporation Price Performance
NYSE:WAL opened at $82.92 on Friday. Western Alliance Bancorporation has a one year low of $68.41 and a one year high of $124.93. The stock has a 50-day moving average of $75.34 and a 200 day moving average of $80.62. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 0.77 and a beta of 1.42. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.99.
Western Alliance Bancorporation (NYSE:WAL - Get Rating) last announced its earnings results on Thursday, July 21st. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.09. The business had revenue of $628.20 million for the quarter, compared to analysts' expectations of $585.26 million. Western Alliance Bancorporation had a return on equity of 21.55% and a net margin of 40.16%. During the same period last year, the firm posted $2.29 earnings per share. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 10.05 EPS for the current year.
Western Alliance Bancorporation Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a $0.36 dividend. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, August 11th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 15.64%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on WAL. Piper Sandler cut their price target on Western Alliance Bancorporation to $105.00 in a report on Friday, May 20th. Wedbush increased their price objective on Western Alliance Bancorporation to $85.00 in a research report on Friday, July 22nd. Truist Financial lowered their price target on Western Alliance Bancorporation to $95.00 in a research report on Tuesday, July 26th. Jefferies Financial Group lowered their price target on Western Alliance Bancorporation from $108.00 to $92.00 in a research report on Monday, July 11th. Finally, DA Davidson reduced their price target on Western Alliance Bancorporation to $100.00 in a research report on Monday, July 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and an average target price of $108.86.
Insider Transactions at Western Alliance Bancorporation
In related news, CFO Dale Gibbons acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, June 10th. The stock was bought at an average price of $77.22 per share, for a total transaction of $154,440.00. Following the acquisition, the chief financial officer now directly owns 258,365 shares of the company's stock, valued at approximately $19,950,945.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.57% of the company's stock.
