Western Alliance Bancorporation (NYSE:WAL) to Issue $0.38 Quarterly Dividend

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.38 per share by the financial services provider on Friday, February 28th. This represents a $1.52 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, February 14th.

Western Alliance Bancorporation has increased its dividend by an average of 7.5% per year over the last three years. Western Alliance Bancorporation has a payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western Alliance Bancorporation to earn $10.43 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 Stock Performance

Shares of WAL traded down $0.38 during mid-day trading on Friday, hitting $90.23. 395,458 shares of the company traded hands, compared to its average volume of 1,244,060. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a 50-day moving average price of $87.43 and a two-hundred day moving average price of $84.84. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 0.61 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities analysts anticipate that Western Alliance Bancorporation will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on WAL shares. UBS Group started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Barclays upped their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday. Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Finally, Truist Financial dropped their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target of $98.07.

About Western Alliance Bancorporation

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.