Western Alliance Ban (WAL) Declares $0.36 Dividend
Western Alliance Ban said on February 6, 2023 that its board of directors declared a regular quarterly dividend of $0.36 per share ($1.44 annualized). Shareholders of record as of February 16, 2023 will receive the payment on March 3, 2023. Previously, the company paid $0.36 per share.
At the current share price of $77.32 / share, the stock's dividend yield is 1.86%. Looking back five years and taking a sample every week, the average dividend yield has been 1.90%, the lowest has been 0.93%, and the highest has been 4.04%. The standard deviation of yields is 0.64 (n=168).
The current dividend yield is 0.06 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.15. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.44%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 13.81% Upside
As of February 9, 2023, the average one-year price target for Western Alliance Ban is $88.00. The forecasts range from a low of $70.70 to a high of $100.80. The average price target represents an increase of 13.81% from its latest reported closing price of $77.32.
The projected annual revenue for Western Alliance Ban is $3,144MM, an increase of 27.14%. The projected annual EPS is $11.09, an increase of 18.14%.
What is the Fund Sentiment?
There are 807 funds or institutions reporting positions in Western Alliance Ban. This is a decrease of 20 owner(s) or 2.42% in the last quarter. Average portfolio weight of all funds dedicated to WAL is 0.32%, a decrease of 5.16%. Total shares owned by institutions increased in the last three months by 2.56% to 119,945K shares. The put/call ratio of WAL is 1.34, indicating a bearish outlook.
What are large shareholders doing?
Price T Rowe Associates holds 8,834K shares representing 8.18% ownership of the company. In it's prior filing, the firm reported owning 14,481K shares, representing a decrease of 63.93%. The firm decreased its portfolio allocation in WAL by 67.17% over the last quarter.
Capital International Investors holds 7,766K shares representing 7.19% ownership of the company. In it's prior filing, the firm reported owning 7,257K shares, representing an increase of 6.56%. The firm increased its portfolio allocation in WAL by 6.86% over the last quarter.
T. Rowe Price Investment Management holds 5,656K shares representing 5.24% ownership of the company.
Wellington Management Group Llp holds 4,134K shares representing 3.83% ownership of the company. In it's prior filing, the firm reported owning 4,897K shares, representing a decrease of 18.47%. The firm decreased its portfolio allocation in WAL by 88.44% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 3,587K shares representing 3.32% ownership of the company. In it's prior filing, the firm reported owning 3,591K shares, representing a decrease of 0.09%. The firm decreased its portfolio allocation in WAL by 9.46% over the last quarter.
Western Alliance Bancorp Background Information
(This description is provided by the company.)
With more than $30 billion in assets, Western Alliance Bancorporation is one of the country's top-performing banking companies. The company has ranked in the top 10 on the Forbes 'Best Banks in America' list for five consecutive years, 2016-2020, and was named #1 best-performing of the 50 largest public U.S. banks for 2019 by S&P Global Market Intelligence. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps business clients realize their ambitions with local teams of experienced bankers who deliver superior service and a full spectrum of customized loan, deposit and treasury management capabilities. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. A national presence with a regional footprint, Western Alliance Bank operates individually branded, full-service banking divisions and has offices in key markets nationwide.
This story originally appeared on Fintel.