Western Alliance Bancorporation (WAL) To Go Ex-Dividend on November 12th

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Friday, October 30th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.46 per share by the financial services provider on Friday, November 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date 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% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Western Alliance Bancorporation has a dividend payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE WAL opened at $77.25 on Tuesday. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The stock has a 50-day moving average of $76.85 and a 200 day moving average of $79.64. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.79 and a beta of 1.43. 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 (NYSE:WAL) last issued its earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Western Alliance Bancorporation had a return on equity of 13.50% and a net margin of 17.34%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.91 million. During the same quarter in the previous year, the firm earned $2.28 EPS. Western Alliance Bancorporation’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Western Alliance Bancorporation in the second quarter worth about $174,329,000. Focus Partners Advisor Solutions LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter valued at about $1,877,000. Independent Financial Group LLC bought a new stake in Western Alliance Bancorporation during the 1st quarter valued at about $924,000. Cibc World Market Inc. purchased a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $2,096,000. Finally, Bank of America Corp DE purchased a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $96,977,000. 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.