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 Stock Performance
NYSE:WAL opened at $85.80 on Friday. The business's 50-day moving average price is $75.17 and its two-hundred day moving average price is $80.73. The stock has a market cap of $9.29 billion, a P/E ratio of 9.32, a PEG ratio of 0.77 and a beta of 1.42. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 1.31. Western Alliance Bancorporation has a twelve month low of $68.41 and a twelve month high of $124.93.
Western Alliance Bancorporation (NYSE:WAL - Get Rating) last issued its earnings results on Thursday, July 21st. The financial services provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.09. Western Alliance Bancorporation had a net margin of 40.16% and a return on equity of 21.55%. The company had revenue of $628.20 million for the quarter, compared to analysts' expectations of $585.26 million. During the same quarter last year, the company earned $2.29 EPS. As a group, equities analysts predict that Western Alliance Bancorporation will post 10.05 EPS for the current fiscal year.
Western Alliance Bancorporation Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 1.68%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 15.64%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on WAL shares. Piper Sandler lowered their target price on Western Alliance Bancorporation to $105.00 in a research note on Friday, May 20th. Truist Financial reduced their target price on shares of Western Alliance Bancorporation to $95.00 in a report on Tuesday, July 26th. Jefferies Financial Group cut their price target on shares of Western Alliance Bancorporation from $108.00 to $92.00 in a report on Monday, July 11th. Wedbush increased their price objective on Western Alliance Bancorporation to $85.00 in a report on Friday, July 22nd. Finally, DA Davidson decreased their target price on shares of Western Alliance Bancorporation to $100.00 in a research report on Monday, July 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.86.
Insider Buying and Selling at Western Alliance Bancorporation
In other Western Alliance Bancorporation news, CFO Dale Gibbons bought 2,000 shares of the stock in a transaction dated Friday, June 10th. The stock was purchased at an average cost of $77.22 per share, for a total transaction of $154,440.00. Following the completion of the acquisition, the chief financial officer now owns 258,365 shares of the company's stock, valued at $19,950,945.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.57% of the company's stock.
