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

Western Alliance Bancorporation (NYSE:WAL) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Thursday, August 13th will be paid a dividend of 0.42 per share by the financial services provider on Thursday, August 27th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th.

Western Alliance Bancorporation has raised 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 15.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Western Alliance Bancorporation to earn $11.29 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 14.9%.

Western Alliance Bancorporation Price Performance

Shares of WAL traded down $0.72 on Friday, reaching $80.53. The stock had a trading volume of 602,296 shares, compared to its average volume of 1,206,940. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The firm has a market capitalization of $8.79 billion, a PE ratio of 9.07, a PEG ratio of 0.78 and a beta of 1.34. The firm has a 50-day moving average of $80.96 and a 200 day moving average of $80.97. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.36. The firm had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.Western Alliance Bancorporation’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 earnings per share. Sell-side analysts expect that Western Alliance Bancorporation will post 9.16 EPS for the current year.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.