Western Alliance Bancorporation (NYSE:WAL) Increases Dividend to $0.46 Per Share

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Friday, October 30th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.46 per share by the financial services provider on Friday, November 27th. This represents a $1.84 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, November 12th. This is a 9.5% increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.42.

Western Alliance Bancorporation has increased its dividend payment by an average of 0.1% per year 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 17.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Western Alliance Bancorporation to earn $10.71 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 17.2%.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $77.25 on Tuesday. The firm has a market cap of $8.31 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.43. The firm’s 50-day simple moving average is $76.85 and its 200-day simple moving average is $79.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.80 and a current ratio of 0.86. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.91 million. Western Alliance Bancorporation had a net margin of 17.34% and a return on equity of 13.50%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.28 earnings per share. Equities analysts forecast that Western Alliance Bancorporation will post 9.04 earnings per share for the current fiscal year.

Institutional Trading of Western Alliance Bancorporation

Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its stake in Western Alliance Bancorporation by 7.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 66,520 shares of the financial services provider’s stock valued at $4,996,000 after buying an additional 4,378 shares in the last quarter. Optas LLC bought a new stake in Western Alliance Bancorporation in the third quarter worth about $273,000. Fisher Asset Management LLC bought a new stake in Western Alliance Bancorporation in the third quarter worth about $488,000. Russell Investments Group Ltd. raised its position in Western Alliance Bancorporation by 51.1% in the third quarter. Russell Investments Group Ltd. now owns 280,840 shares of the financial services provider’s stock worth $21,093,000 after acquiring an additional 95,010 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. lifted its holdings in Western Alliance Bancorporation by 46.4% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 1,451 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 460 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona, and the parent of Western Alliance Bank. The company provides commercial banking and related financial services to businesses, business owners and individuals.

Its services include business and commercial real estate lending, deposit accounts, treasury management, and specialized banking for industries such as technology, healthcare, and property management. Through its banking divisions and specialized business lines, Western Alliance serves clients across the western United States and beyond.

Western Alliance traces its history to the 1990s and has expanded through acquisitions and the development of regional banking divisions.