Western Alliance Bancorporation (NYSE:WAL – Get Free Report) announced its earnings results on Friday. The financial services provider reported $1.72 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $711.34 million. During the same quarter in the prior year, the business posted $2.30 EPS.
Western Alliance Bancorporation Price Performance
WAL stock opened at $57.44 on Friday. The company has a fifty day moving average price of $59.50 and a 200-day moving average price of $56.51. The company has a market capitalization of $6.33 billion, a P/E ratio of 8.37 and a beta of 1.47. Western Alliance Bancorporation has a 52-week low of $11.35 and a 52-week high of $70.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96.
Western Alliance Bancorporation Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s payout ratio is currently 21.57%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on WAL
Hedge Funds Weigh In On Western Alliance Bancorporation
Large investors have recently modified their holdings of the business. Harbour Investments Inc. raised its stake in shares of Western Alliance Bancorporation by 400.7% during the first quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 557 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Western Alliance Bancorporation during the first quarter valued at $64,000. Lazard Asset Management LLC bought a new position in shares of Western Alliance Bancorporation during the second quarter valued at $28,000. State of Wyoming raised its stake in Western Alliance Bancorporation by 54.7% during the second 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 last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Western Alliance Bancorporation by 436.9% during the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the financial services provider’s stock worth $66,000 after buying an additional 651 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.
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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