Valley National Bancorp (VLY) To Go Ex-Dividend on June 13th

Valley National Bancorp (NASDAQ:VLYGet Free Report) declared a quarterly dividend on Thursday, May 30th, NASDAQ reports. Investors of record on Thursday, June 13th will be given a dividend of 0.11 per share on Tuesday, July 2nd. This represents a $0.44 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend is Thursday, June 13th.

Valley National Bancorp has a dividend payout ratio of 42.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Valley National Bancorp to earn $1.04 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 42.3%.

Valley National Bancorp Price Performance

NASDAQ VLY opened at $6.73 on Tuesday. Valley National Bancorp has a twelve month low of $6.51 and a twelve month high of $11.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $3.43 billion, a PE ratio of 7.92 and a beta of 1.10. The stock has a 50-day simple moving average of $7.45 and a 200 day simple moving average of $8.64.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same period in the prior year, the firm posted $0.30 EPS. Research analysts anticipate that Valley National Bancorp will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

VLY has been the subject of several recent research reports. StockNews.com raised Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Royal Bank of Canada dropped their target price on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. Barclays started coverage on Valley National Bancorp in a report on Friday, March 8th. They issued an “underweight” rating and a $8.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 4th. Finally, TheStreet lowered Valley National Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.89.

Get Our Latest Research Report on VLY

Insider Transactions at Valley National Bancorp

In related news, EVP Joseph Chillura sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $7.43, for a total transaction of $185,750.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $74,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Valley National Bancorp news, EVP Joseph Chillura sold 25,000 shares of Valley National Bancorp stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $7.43, for a total value of $185,750.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $74,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew B. Abramson sold 16,451 shares of Valley National Bancorp stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total value of $127,001.72. Following the completion of the sale, the director now directly owns 224,679 shares in the company, valued at approximately $1,734,521.88. The disclosure for this sale can be found here. 1.88% of the stock is owned by corporate insiders.

Valley National Bancorp Company Profile

(Get Free Report)

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.

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Dividend History for Valley National Bancorp (NASDAQ:VLY)

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