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

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders 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 dividend yield of 1.75%. The ex-dividend date is Friday, February 14th.

Western Alliance Bancorporation has increased its dividend by an average of 7.5% annually over the last three years. Western Alliance Bancorporation has a payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 2.9 %

Shares of WAL stock opened at $87.03 on Wednesday. The stock’s fifty day moving average price is $87.18 and its 200 day moving average price is $85.14. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that Western Alliance Bancorporation will post 8.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WAL has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target 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. DA Davidson reduced their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Truist Financial cut their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, Barclays lifted their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.