Western Alliance Bancorporation (NYSE:WAL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Western Alliance Bancorporation (NYSE:WAL) issued its quarterly earnings results on Monday. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03, Zacks reports. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $89.23 on Wednesday. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The company has a market cap of $9.82 billion, a PE ratio of 13.77, a P/E/G ratio of 0.88 and a beta of 1.46. The stock has a 50 day simple moving average of $88.13 and a 200-day simple moving average of $84.11. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.38 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.

Analysts Set New Price Targets

WAL has been the subject of several research analyst reports. Barclays increased their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. UBS Group initiated coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.38.

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.