Valley National Bancorp (NASDAQ:VLY – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07), Briefing.com reports. The business had revenue of $884.68 million for the quarter, compared to the consensus estimate of $458.67 million. Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. During the same period in the prior year, the business posted $0.28 EPS.
Valley National Bancorp Trading Up 2.0 %
Shares of NASDAQ VLY traded up $0.16 during trading hours on Friday, hitting $8.23. The company’s stock had a trading volume of 6,238,734 shares, compared to its average volume of 6,400,001. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 0.99. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 9.68 and a beta of 1.08. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.22. The business has a 50-day simple moving average of $7.14 and a 200-day simple moving average of $7.92.
Valley National Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Thursday, June 13th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 5.35%. Valley National Bancorp’s dividend payout ratio is currently 51.76%.
Insider Buying and Selling
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Barclays lowered their price target on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. lowered their price target on Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada raised their price target on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price target on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research report on Friday. Finally, StockNews.com upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.61.
Get Our Latest Analysis on VLY
About Valley National Bancorp
Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.
Featured Stories
- Five stocks we like better than Valley National Bancorp
- What Are Dividends? Buy the Best Dividend Stocks
- Why Call Options Volume for These 2 Stocks Spiked Together
- How to invest in marijuana stocks in 7 steps
- MarketBeat Week in Review – 7/22 – 7/26
- What Makes a Stock a Good Dividend Stock?
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.