Western Alliance Bancorporation (NYSE:WAL) Increases Dividend to $0.46 Per Share

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Friday, October 30th. Investors of record on Thursday, November 12th will be paid 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 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. 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

WAL opened at $77.25 on Tuesday. The firm has a market cap 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. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The company’s 50-day moving average price is $76.85 and its 200 day moving average price is $79.64. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share (EPS) 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 firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.91 million. During the same quarter last year, the company posted $2.28 earnings per share. Western Alliance Bancorporation’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $26,000. Fortitude Family Office LLC grew its position in Western Alliance Bancorporation by 173.5% in the 3rd quarter. Fortitude Family Office LLC now owns 361 shares of the financial services provider’s stock valued at $27,000 after buying an additional 229 shares in the last quarter. Provenance Wealth Advisors LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $31,000. Assetmark Inc. increased its stake in Western Alliance Bancorporation by 86.0% during the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after buying an additional 259 shares during the period. Finally, Compound Global Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth about $41,000. 79.15% of the stock is owned by institutional investors and hedge funds.

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.