Western Alliance Bancorporation (NYSE:WAL – Get Free Report) announced a quarterly dividend on Friday, October 30th. Stockholders 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 raised its dividend 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 payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.3%
Shares of NYSE:WAL opened at $77.25 on Tuesday. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.80. The business’s 50 day moving average price is $76.85 and its 200-day moving average price is $79.64.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last posted its quarterly earnings data 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 net margin of 17.34% and a return on equity of 13.50%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.91 million. During the same period in the prior year, the business posted $2.28 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.04 earnings per share for the current fiscal year.
About Western Alliance Bancorporation
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.
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