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. Investors 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 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, February 14th.

Western Alliance Bancorporation has raised its dividend payment by an average of 7.5% annually over the last three years. Western Alliance Bancorporation has a dividend payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 0.8 %

Shares of NYSE:WAL traded down $0.74 during mid-day trading on Friday, hitting $89.87. 750,813 shares of the company traded hands, compared to its average volume of 1,258,873. The stock has a 50-day moving average price of $87.43 and a two-hundred day moving average price of $84.84. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The stock has a market cap of $9.89 billion, a P/E ratio of 12.66, a P/E/G 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 (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

WAL has been the topic of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price 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. DA Davidson cut their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target 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.