Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.25 per share by the financial services provider on Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, August 15th.
Western Alliance Bancorporation has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Western Alliance Bancorporation to earn $5.05 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.8%.
WAL opened at $44.15 on Wednesday. Western Alliance Bancorporation has a fifty-two week low of $37.39 and a fifty-two week high of $60.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. The business’s fifty day simple moving average is $45.53. The firm has a market capitalization of $4.63 billion, a P/E ratio of 10.66, a P/E/G ratio of 0.83 and a beta of 1.60.
In other Western Alliance Bancorporation news, Director William S. Boyd purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $45.25 per share, for a total transaction of $113,125.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $226,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.72% of the stock is currently owned by corporate insiders.
WAL has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating on shares of Western Alliance Bancorporation in a report on Tuesday, July 16th. Wells Fargo & Co boosted their price objective on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 29th. Finally, ValuEngine upgraded Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $58.00.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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