Western Alliance Bancorporation (NYSE:WAL) Posts Earnings Results, Beats Estimates By $0.03 EPS

Western Alliance Bancorporation (NYSE:WAL) announced its quarterly earnings data on Monday. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03, Zacks reports. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%.

Western Alliance Bancorporation Trading Up 2.1 %

Shares of WAL stock opened at $94.06 on Tuesday. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $10.35 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46. The firm has a 50 day moving average price of $88.03 and a two-hundred day moving average price of $83.91.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. UBS Group assumed coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $101.00 in a research note on Monday, October 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 report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.31.

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.