Valley National Bancorp (NASDAQ:VLY) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Valley National Bancorp (NASDAQ:VLY) posted its quarterly earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02), Zacks reports. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period last year, the business earned $0.22 EPS.

Valley National Bancorp Price Performance

Shares of VLY opened at $10.17 on Friday. The stock’s fifty day moving average is $9.75 and its 200-day moving average is $9.05. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 70.97%.

Analyst Ratings Changes

VLY has been the topic of several research reports. Barclays upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. Royal Bank of Canada increased their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Stephens reaffirmed an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.56.

Valley National Bancorp Company Profile

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.