Western Alliance Bancorporation (NYSE:WAL – Get Free Report) released its earnings results on Friday. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $711.34 million. During the same quarter last year, the firm posted $2.30 earnings per share.
Western Alliance Bancorporation Stock Up 3.0 %
NYSE WAL traded up $1.70 during trading on Friday, hitting $57.44. The company’s stock had a trading volume of 4,028,697 shares, compared to its average volume of 913,744. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market cap of $6.33 billion, a PE ratio of 8.37 and a beta of 1.47. The business’s 50 day simple moving average is $59.50 and its 200-day simple moving average is $56.51. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23.
Western Alliance Bancorporation Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a $0.37 dividend. 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 presently 21.57%.
Institutional Investors Weigh In On Western Alliance Bancorporation
Analyst Ratings Changes
A number of analysts have weighed in on WAL shares. Truist Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Western Alliance Bancorporation in a research note on Monday, April 1st. Jefferies Financial Group reduced their target price on Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Wedbush reduced their target price on Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday. Stephens reiterated an “overweight” rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a research note on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $78.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.36.
View 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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