Western Alliance Bancorporation (NYSE:WAL) Raises Dividend to $0.42 Per Share

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Monday, November 3rd. Stockholders of record on Thursday, November 13th will be paid a dividend of 0.42 per share by the financial services provider on Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 13th. This is a 10.5% increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38.

Western Alliance Bancorporation has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Western Alliance Bancorporation has a payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Western Alliance Bancorporation to earn $10.44 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 Western Alliance Bancorporation stock opened at $76.82 on Tuesday. The company has a 50 day moving average of $84.38 and a 200-day moving average of $79.64. The company has a market cap of $8.48 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 0.52 and a beta of 1.35. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Weiss Ratings cut Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Barclays reiterated an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. Truist Financial lifted their price target on shares of Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, National Bankshares set a $118.00 price objective on Western Alliance Bancorporation in a report on Wednesday, September 24th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $101.20.

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.