Western Alliance Bancorporation (NYSE:WAL – Get Free Report) announced its quarterly earnings data on Thursday. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03, Briefing.com reports. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. During the same period in the previous year, the business posted $2.30 EPS.
Western Alliance Bancorporation Stock Up 3.0 %
NYSE:WAL opened at $57.44 on Friday. The firm’s 50-day moving average price is $59.50 and its 200-day moving average price is $56.41. The company has a market capitalization of $6.33 billion, a PE ratio of 8.37 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23.
Western Alliance Bancorporation Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.57%.
Analysts Set New Price Targets
Read Our Latest Research Report on WAL
Institutional Trading of Western Alliance Bancorporation
Hedge funds and other institutional investors have recently modified their holdings of the business. Harbour Investments Inc. grew its position in shares of Western Alliance Bancorporation by 400.7% in the 1st quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock worth $25,000 after buying an additional 557 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Western Alliance Bancorporation in the 2nd quarter worth about $28,000. State of Wyoming grew its position in shares of Western Alliance Bancorporation by 54.7% in the 2nd quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock worth $29,000 after buying an additional 277 shares during the period. Advisory Services Network LLC boosted its stake in Western Alliance Bancorporation by 118.2% in the 1st quarter. Advisory Services Network LLC now owns 993 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 538 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in Western Alliance Bancorporation during the 1st quarter valued at about $64,000. 79.15% of the stock is owned by hedge funds and other institutional investors.
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.
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