Western Alliance Bancorporation (NYSE:WAL) Releases Earnings Results, Beats Expectations By $0.01 EPS

Western Alliance Bancorporation (NYSE:WAL) posted its quarterly earnings results on Monday. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01, Zacks reports. The company had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same quarter in the prior year, the company earned $1.72 EPS.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $65.35 on Wednesday. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The firm’s 50-day simple moving average is $75.74 and its two-hundred day simple moving average is $83.63. The stock has a market cap of $7.22 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WAL shares. Barclays lowered their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Stephens reissued an “overweight” rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.92.

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.