Western Alliance Bancorporation (WAL) To Go Ex-Dividend on August 13th

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Thursday, August 13th will be paid a dividend of 0.42 per share by the financial services provider on Thursday, August 27th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th.

Western Alliance Bancorporation has increased its dividend by an average of 0.1%annually 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% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Western Alliance Bancorporation to earn $11.29 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 14.9%.

Western Alliance Bancorporation Stock Down 1.0%

WAL stock opened at $80.50 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a market capitalization of $8.78 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.78 and a beta of 1.34. The business has a 50-day moving average of $81.39 and a 200-day moving average of $80.68. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The business had revenue of $995.70 million during the quarter, compared to the consensus estimate of $980.53 million. During the same period last year, the company earned $2.07 earnings per share. Western Alliance Bancorporation’s quarterly revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WAL shares. UBS Group boosted their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Truist Financial boosted their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.47.

About Western Alliance Bancorporation

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.