Valley National Bancorp (VLY) to Release Earnings on Thursday

Valley National Bancorp (NASDAQ:VLYGet Rating) is set to post its quarterly earnings results before the market opens on Thursday, January 26th. Analysts expect Valley National Bancorp to post earnings of $0.36 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLYGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Valley National Bancorp had a net margin of 27.19% and a return on equity of 10.78%. The company had revenue of $510.19 million for the quarter, compared to analysts’ expectations of $505.78 million. On average, analysts expect Valley National Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Valley National Bancorp Stock Performance

Shares of VLY opened at $11.05 on Wednesday. The stock has a fifty day simple moving average of $11.63. Valley National Bancorp has a fifty-two week low of $10.01 and a fifty-two week high of $14.80. The company has a market capitalization of $5.60 billion, a PE ratio of 10.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.96 and a quick ratio of 0.96.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.98%. The ex-dividend date was Wednesday, December 14th. Valley National Bancorp’s dividend payout ratio is presently 41.51%.

Analyst Ratings Changes

VLY has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Valley National Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 13th. StockNews.com initiated coverage on shares of Valley National Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley initiated coverage on shares of Valley National Bancorp in a research report on Monday, December 5th. They set an “equal weight” rating and a $14.00 price objective on the stock. Piper Sandler cut their price objective on shares of Valley National Bancorp to $14.00 in a research report on Wednesday, October 5th. Finally, Raymond James initiated coverage on shares of Valley National Bancorp in a research report on Tuesday, December 20th. They set a “strong-buy” rating and a $14.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.71.

Institutional Trading of Valley National Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its position in shares of Valley National Bancorp by 73.0% during the first quarter. Covestor Ltd now owns 6,213 shares of the company’s stock valued at $81,000 after buying an additional 2,622 shares during the last quarter. Creative Planning lifted its position in shares of Valley National Bancorp by 6,274.7% during the second quarter. Creative Planning now owns 10,072 shares of the company’s stock valued at $105,000 after buying an additional 9,914 shares during the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Valley National Bancorp during the second quarter valued at about $122,000. Mirabella Financial Services LLP purchased a new stake in shares of Valley National Bancorp during the first quarter valued at about $132,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Valley National Bancorp during the third quarter valued at about $154,000. 54.77% of the stock is owned by hedge funds and other institutional investors.

About Valley National Bancorp

(Get Rating)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Commercial Lending, Consumer Lending, and Investment Management segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

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Earnings History for Valley National Bancorp (NASDAQ:VLY)

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