Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Investors of record on Friday, August 16th will be paid 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 dividend yield of 2.24%. 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%.

Shares of WAL stock traded up $0.88 on Tuesday, reaching $44.61. The company’s stock had a trading volume of 393 shares, compared to its average volume of 873,863. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94. Western Alliance Bancorporation has a 12-month low of $37.39 and a 12-month high of $60.01. The firm has a market cap of $4.63 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.83 and a beta of 1.60. The company has a 50 day simple moving average of $45.51.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.03. Western Alliance Bancorporation had a return on equity of 17.76% and a net margin of 39.87%. The company had revenue of $267.30 million for the quarter, compared to the consensus estimate of $274.37 million. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Western Alliance Bancorporation will post 4.75 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 29th. ValuEngine upgraded Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 1st. Wells Fargo & Co raised their price target 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. Finally, Wedbush restated an “outperform” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $58.00.

In related news, Director William S. Boyd acquired 2,500 shares of Western Alliance Bancorporation stock in a transaction dated Friday, May 17th. The shares were purchased at an average cost of $45.25 per share, with a total value of $113,125.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $226,250. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.72% of the stock is currently owned by company insiders.

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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