Western Alliance Bancorporation (NYSE:WAL) Announces Earnings Results

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) issued its earnings results on Monday. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.01, Zacks reports. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The firm had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same quarter in the prior year, the business earned $1.72 earnings per share.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL traded up $1.38 during midday trading on Thursday, hitting $70.08. The stock had a trading volume of 317,809 shares, compared to its average volume of 1,304,557. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $75.34 and a two-hundred day moving average price of $83.53. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The company has a market capitalization of $7.74 billion, a PE ratio of 9.87, a P/E/G ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reduced their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Company Profile

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.