Western Alliance Bancorporation (NYSE:WAL) Announces Quarterly Dividend of $0.38

Western Alliance Bancorporation (NYSE:WAL) declared a quarterly dividend on Monday, November 4th, Wall Street Journal reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.38 per share by the financial services provider on Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37.

Western Alliance Bancorporation has increased its dividend payment by an average of 13.2% per year over the last three years. Western Alliance Bancorporation has a payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Western Alliance Bancorporation to earn $8.91 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 16.6%.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock traded down $0.71 during mid-day trading on Monday, reaching $82.60. The company had a trading volume of 602,849 shares, compared to its average volume of 1,309,192. The business has a fifty day simple moving average of $83.77 and a 200 day simple moving average of $72.41. The company has a market cap of $9.09 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.30 and a beta of 1.44. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a fifty-two week low of $43.20 and a fifty-two week high of $94.28.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WAL shares. Truist Financial cut their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wedbush increased their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Piper Sandler decreased their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by insiders.

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.