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

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Thursday, July 30th. Stockholders 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 dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th.

Western Alliance Bancorporation has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Western Alliance Bancorporation has a payout ratio of 15.9% indicating that 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 Price Performance

Shares of WAL stock traded down $0.72 during trading on Friday, hitting $80.53. The company had a trading volume of 602,296 shares, compared to its average volume of 1,206,940. The firm has a market capitalization of $8.79 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.80 and a current ratio of 0.85. The stock’s 50-day moving average price is $80.96 and its 200 day moving average price is $80.97.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting the consensus estimate of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $980.53 million. During the same period in the previous year, the firm earned $2.07 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts expect that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho set a $96.00 price objective on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $95.00 price target on Western Alliance Bancorporation in a research note on Thursday, July 23rd. UBS Group upped their price objective on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Stephens set a $95.00 price objective on Western Alliance Bancorporation and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.82.

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.