Western Alliance Bancorporation (NYSE:WAL) Posts Earnings Results, Beats Estimates By $0.03 EPS

Western Alliance Bancorporation (NYSE:WAL) issued its quarterly earnings data on Monday. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.03, Zacks reports. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.

Western Alliance Bancorporation Trading Down 1.2%

WAL stock traded down $0.92 on Monday, hitting $73.59. 1,492,212 shares of the company were exchanged, compared to its average volume of 1,181,758. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.76 and a beta of 1.42. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The business’s fifty day moving average is $78.14 and its two-hundred day moving average is $79.11.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is presently 18.92%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WAL. Raymond James Financial assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, September 22nd. They issued an “outperform” rating and a $90.00 price objective for the company. DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, July 22nd. TD Cowen lowered their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Royal Bank Of Canada reduced their price target on Western Alliance Bancorporation from $95.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. Finally, Stephens set a $95.00 price target on Western Alliance Bancorporation and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.18.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation (NYSE:WAL) is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs, and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, construction loans, residential mortgage warehouse lending, and consumer banking services. Its deposit products include checking, savings, money market, and time deposit accounts, while its other services include treasury management, online banking, payments, and wealth management solutions.

The bank serves customers through a combination of regional banking divisions and specialized businesses, with operations focused on markets including Arizona, California, and Nevada as well as nationwide industry-based lending and financial services.