Western Alliance Bancorporation (NYSE:WAL) to Issue Quarterly Dividend of $0.42

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Monday, November 3rd. Shareholders of record on Thursday, November 13th will be paid a dividend of 0.42 per share by the financial services provider on Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, November 13th. This is a 10.5% increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38.

Western Alliance Bancorporation has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Western Alliance Bancorporation has a payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western Alliance Bancorporation to earn $10.44 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 14.6%.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $76.82 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.83. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The firm’s 50 day moving average price is $84.38 and its two-hundred day moving average price is $79.64. The firm has a market cap of $8.48 billion, a P/E ratio of 9.50, a PEG ratio of 0.52 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The firm had revenue of $718.00 million for the quarter. On average, analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

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.