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

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Thursday, February 5th. Investors of record on Friday, February 20th will be given a dividend of 0.42 per share by the financial services provider on Friday, March 6th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, February 20th.

Western Alliance Bancorporation has raised its dividend payment by an average of 0.1%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 15.9% meaning its dividend is sufficiently covered by earnings. 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 $1.68 annual dividend with an expected future payout ratio of 16.1%.

Western Alliance Bancorporation Stock Up 2.9%

Shares of NYSE WAL traded up $2.65 on Friday, reaching $93.76. 309,573 shares of the company’s stock traded hands, compared to its average volume of 931,755. The business’s 50 day simple moving average is $87.13 and its two-hundred day simple moving average is $84.01. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $94.09. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. The company had revenue of $980.90 million during the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.During the same quarter last year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WAL has been the topic of several recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Barclays reiterated an “overweight” rating on shares of Western Alliance Bancorporation in a report on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, October 23rd. Finally, Citigroup lifted their target price on Western Alliance Bancorporation from $104.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.73.

Western Alliance Bancorporation Company Profile

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.