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

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.38 per share by the financial services provider on Friday, February 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, February 14th.

Western Alliance Bancorporation has raised its dividend by an average of 7.5% annually over the last three years. Western Alliance Bancorporation has a payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Western Alliance Bancorporation to earn $10.43 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 Price Performance

Shares of WAL stock traded down $0.74 during trading hours on Friday, reaching $89.87. The stock had a trading volume of 750,813 shares, compared to its average volume of 1,258,873. The stock’s fifty day simple moving average is $87.43 and its 200 day simple moving average is $84.84. The firm has a market capitalization of $9.89 billion, a PE ratio of 12.66, a PEG ratio of 0.61 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WAL shares. Stephens reaffirmed an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Truist Financial cut their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

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.