Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.25 per share by the financial services provider on Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, August 15th.
Western Alliance Bancorporation has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Western Alliance Bancorporation to earn $5.05 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 19.8%.
NYSE:WAL opened at $44.15 on Wednesday. The firm has a 50 day moving average price of $45.53. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.83 and a beta of 1.60. Western Alliance Bancorporation has a 1-year low of $37.39 and a 1-year high of $60.01.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.03. The business had revenue of $267.30 million during the quarter, compared to analyst estimates of $274.37 million. Western Alliance Bancorporation had a net margin of 39.87% and a return on equity of 17.76%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities analysts expect that Western Alliance Bancorporation will post 4.75 earnings per share for the current year.
In related news, Director William S. Boyd purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of $45.25 per share, with a total value of $113,125.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.72% of the company’s stock.
Several equities analysts recently commented on WAL shares. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 29th. Wells Fargo & Co upped their price target on shares of Western Alliance Bancorporation from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. ValuEngine raised shares of Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 1st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $58.00.
About Western Alliance Bancorporation
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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