Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Friday, August 14th will be paid a dividend of 0.25 per share by the financial services provider on Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, August 13th.
Western Alliance Bancorporation has a dividend payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Western Alliance Bancorporation to earn $4.26 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.5%.
NYSE WAL traded down $0.90 on Thursday, reaching $36.11. 4,892 shares of the company’s stock traded hands, compared to its average volume of 708,131. Western Alliance Bancorporation has a 12 month low of $20.90 and a 12 month high of $58.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50-day simple moving average of $37.19 and a 200 day simple moving average of $40.30. The stock has a market cap of $3.58 billion, a PE ratio of 8.34 and a beta of 1.84.
Several brokerages have recently issued reports on WAL. Wells Fargo & Co cut shares of Western Alliance Bancorporation from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a report on Tuesday, June 2nd. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Friday, May 22nd. ValuEngine upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, April 30th. UBS Group raised their target price on shares of Western Alliance Bancorporation from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Citigroup cut shares of Western Alliance Bancorporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $41.00 to $44.00 in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.22.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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