Western Alliance Bancorporation (NYSE:WAL) Issues Earnings Results, Beats Estimates By $0.03 EPS

Western Alliance Bancorporation (NYSE:WAL) announced its earnings results on Monday. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03, Zacks reports. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%.

Western Alliance Bancorporation Trading Up 2.1 %

Shares of WAL traded up $1.91 during trading hours on Monday, hitting $94.06. 2,321,533 shares of the stock were exchanged, compared to its average volume of 1,282,880. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm has a market capitalization of $10.35 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46. The business has a 50-day moving average of $88.03 and a 200-day moving average of $83.91. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10.

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.38 dividend. The ex-dividend date was Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.62%. Western Alliance Bancorporation’s dividend payout ratio is presently 23.46%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Stephens reaffirmed an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Piper Sandler dropped their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.31.

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.