Western Alliance Bancorporation (NYSE:WAL) Plans Quarterly Dividend of $0.46

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Friday, October 30th. Shareholders 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 yield of 2.4%. The ex-dividend date of this dividend 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 payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Western Alliance Bancorporation has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 2.3%

Shares of Western Alliance Bancorporation stock opened at $77.25 on Tuesday. The company has a fifty day moving average price of $76.85 and a 200 day moving average price of $79.64. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The stock 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 (NYSE:WAL) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. Western Alliance Bancorporation had a return on equity of 13.50% and a net margin of 17.34%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.91 million. During the same period in the prior year, the firm earned $2.28 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Western Alliance Bancorporation will post 9.04 earnings per share for the current fiscal year.

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.