Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Friday, August 14th will be paid a dividend of 0.25 per share by the financial services provider on Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, August 13th.
Western Alliance Bancorporation has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western Alliance Bancorporation to earn $4.26 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 23.5%.
Shares of Western Alliance Bancorporation stock traded down $0.90 during midday trading on Thursday, hitting $36.11. 4,892 shares of the company traded hands, compared to its average volume of 708,131. Western Alliance Bancorporation has a 12 month low of $20.90 and a 12 month high of $58.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 8.34 and a beta of 1.84. The firm’s fifty day moving average price is $37.19 and its 200-day moving average price is $40.30.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 16th. The financial services provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.24. Western Alliance Bancorporation had a net margin of 32.82% and a return on equity of 14.52%. The firm had revenue of $319.67 million for the quarter, compared to analyst estimates of $305.38 million. Equities research analysts forecast that Western Alliance Bancorporation will post 3.58 earnings per share for the current year.
A number of equities research analysts have weighed in on the stock. ValuEngine raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, April 30th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Friday, May 22nd. SunTrust Banks reduced their target price on shares of Western Alliance Bancorporation from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Citigroup downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $44.00 in a research report on Wednesday, June 17th. Finally, DA Davidson boosted their price target on shares of Western Alliance Bancorporation from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.22.
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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