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

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors 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 1.74%. The ex-dividend date of this dividend is Friday, February 14th.

Western Alliance Bancorporation has raised 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 analysts expect Western Alliance Bancorporation to earn $10.36 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 14.7%.

Western Alliance Bancorporation Stock Down 0.2 %

Shares of WAL traded down $0.19 during midday trading on Tuesday, hitting $87.41. The company had a trading volume of 27,523 shares, compared to its average volume of 1,191,926. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The company's 50 day moving average price is $87.24 and its 200 day moving average price is $85.09. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, equities research analysts predict that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Analyst Ratings Changes

WAL has been the topic of a number of analyst reports. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the stock an "outperform" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. dropped their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. 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 note on Monday, October 21st. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average 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.