Western Alliance Bancorporation (NYSE:WAL) Declares Quarterly Dividend of $0.42

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Monday, November 3rd. Shareholders of record on Thursday, November 13th will be given a dividend of 0.42 per share by the financial services provider on Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, November 13th. This is a 10.5% increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38.

Western Alliance Bancorporation has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Western Alliance Bancorporation has a dividend payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Western Alliance Bancorporation to earn $10.44 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 Trading Down 0.7%

Shares of WAL stock opened at $76.82 on Tuesday. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 0.52 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.83. The firm has a fifty day moving average of $84.38 and a 200-day moving average of $79.64.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. The business had revenue of $718.00 million for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WAL has been the topic of several research analyst reports. National Bankshares set a $118.00 price objective on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. Wall Street Zen upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Industrial Alliance Securities set a $95.00 price objective on shares of Western Alliance Bancorporation in a report on Thursday, October 23rd. TD Cowen started coverage on shares of Western Alliance Bancorporation in a research report on Thursday, September 25th. They issued a “buy” rating and a $118.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, October 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.20.

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.