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 (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03, Briefing.com reports. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $711.34 million. During the same period last year, the business posted $2.30 earnings per share.
Western Alliance Bancorporation Trading Up 3.0 %
WAL opened at $57.44 on Friday. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23. 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 company has a market cap of $6.33 billion, a P/E ratio of 8.37 and a beta of 1.47. The company has a fifty day moving average price of $59.50 and a two-hundred day moving average price of $56.51.
Western Alliance Bancorporation Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.
Institutional Investors Weigh In On Western Alliance Bancorporation
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Barclays started coverage on shares of Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an “overweight” rating and a $91.00 target price for the company. Wells Fargo & Company cut their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. Truist Financial restated a “buy” rating and set a $80.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, April 1st. JPMorgan Chase & Co. cut their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Citigroup raised their price target on shares of 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target of $71.36.
Check Out Our Latest Stock Analysis on Western Alliance Bancorporation
About Western Alliance Bancorporation
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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