Western Alliance Bancorporation (WAL) To Go Ex-Dividend on February 14th

Western Alliance Bancorporation (NYSE:WAL) 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 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend 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. 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 Price Performance

Shares of NYSE:WAL opened at $87.03 on Wednesday. The company has a market capitalization of $9.58 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.64 and a beta of 1.46. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The firm’s 50 day simple moving average is $87.18 and its two-hundred day simple moving average is $85.14. 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 announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Research analysts expect that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WAL has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays raised their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, UBS Group started coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price 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.