Valley National Bancorp (NASDAQ:VLY) Issues Earnings Results

Valley National Bancorp (NASDAQ:VLY) issued its earnings results on Thursday. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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%.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $9.80 on Thursday. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. The company has a 50 day moving average price of $9.76 and a 200 day moving average price of $9.02. The stock has a market capitalization of $4.99 billion, a P/E ratio of 15.81 and a beta of 1.12.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s dividend payout ratio is presently 70.97%.

Wall Street Analyst Weigh In

VLY has been the subject of several recent research reports. Morgan Stanley lifted their target price 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. Barclays upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on Valley National Bancorp from $11.50 to $10.50 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.39.

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.