Western Alliance Bancorporation (NYSE:WAL – Get Free Report) issued its quarterly earnings results on Friday. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03, Briefing.com reports. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. During the same quarter last year, the company earned $2.30 earnings per share.
Western Alliance Bancorporation Stock Up 3.0 %
Shares of WAL stock opened at $57.44 on Monday. The stock has a 50 day moving average of $59.50 and a 200 day moving average of $56.60. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The stock has a market cap of $6.33 billion, a P/E ratio of 8.37 and a beta of 1.47. Western Alliance Bancorporation has a twelve month low of $11.35 and a twelve month high of $70.23.
Western Alliance Bancorporation Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.
Institutional Trading of Western Alliance Bancorporation
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Wedbush reduced their price objective on Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday. Stephens restated an “overweight” rating and issued a $82.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday. Barclays assumed coverage on Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an “overweight” rating and a $91.00 price objective for the company. Finally, Citigroup raised their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.36.
Get Our Latest Stock Report on Western Alliance Bancorporation
Western Alliance Bancorporation Company Profile
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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