Valley National Bancorp to Issue Quarterly Dividend of $0.11 (NASDAQ:VLY)

Valley National Bancorp (NASDAQ:VLY) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.11 per share on Wednesday, April 1st. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, March 13th.

Valley National Bancorp has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Valley National Bancorp to earn $1.15 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 38.3%.

Valley National Bancorp Stock Up 2.2%

NASDAQ:VLY traded up $0.29 during mid-day trading on Wednesday, reaching $13.16. The stock had a trading volume of 2,686,049 shares, compared to its average volume of 8,197,759. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $7.34 billion, a P/E ratio of 13.02 and a beta of 1.10. The business’s 50 day moving average is $12.44 and its 200 day moving average is $11.34. Valley National Bancorp has a fifty-two week low of $7.48 and a fifty-two week high of $13.87.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The company had revenue of $541.25 million for the quarter, compared to analyst estimates of $524.31 million. During the same quarter in the prior year, the business posted $0.13 EPS. Valley National Bancorp’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.