Western Alliance Bancorporation (WAL) to Issue Quarterly Dividend of $0.42 on August 27th

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Thursday, August 13th will be given 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 payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 5 years. Western Alliance Bancorporation has a dividend payout ratio of 15.9% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.9%

Shares of Western Alliance Bancorporation stock opened at $80.53 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.80. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The company has a market capitalization of $8.79 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.78 and a beta of 1.34. The business has a 50 day moving average price of $81.00 and a 200 day moving average price of $80.97.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.36. The firm had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.Western Alliance Bancorporation’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on WAL shares. JPMorgan Chase & Co. increased their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Stephens set a $95.00 target price on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Barclays decreased their price target on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Piper Sandler lifted their price target on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock 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.