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

Valley National Bancorp (NASDAQ:VLY) declared a quarterly dividend on Monday, December 9th,Wall Street Journal reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.11 per share on Thursday, January 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Friday, December 13th.

Valley National Bancorp has a dividend payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valley National Bancorp to earn $0.91 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 48.4%.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $10.37 on Wednesday. The business has a 50 day simple moving average of $9.79 and a 200 day simple moving average of $8.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 16.73 and a beta of 1.09. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the previous year, the firm earned $0.26 EPS. On average, equities research analysts anticipate that Valley National Bancorp will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VLY. Wedbush reissued a “neutral” rating and set a $10.00 price objective on shares of Valley National Bancorp in a research note on Friday, October 25th. Piper Sandler increased their price target on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 11th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley boosted their price target on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Valley National Bancorp has an average rating of “Hold” and an average target price of $10.00.

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.