Valley National Bancorp (NASDAQ:VLY) Releases Earnings Results, Meets Estimates

Valley National Bancorp (NASDAQ:VLY) posted its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18, Briefing.com reports. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period in the prior year, the firm earned $0.26 earnings per share.

Valley National Bancorp Stock Up 0.1 %

Valley National Bancorp stock traded up $0.01 during mid-day trading on Thursday, hitting $9.13. The company had a trading volume of 228,822 shares, compared to its average volume of 5,802,210. The company has a market capitalization of $4.65 billion, a PE ratio of 12.85 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.22. The stock’s 50 day moving average price is $8.71 and its two-hundred day moving average price is $7.86.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, September 13th. Valley National Bancorp’s payout ratio is presently 61.97%.

Analysts Set New Price Targets

VLY has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Wedbush upped their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. 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 research note on Monday, September 30th. Finally, Royal Bank of Canada increased their price target on shares of Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Valley National Bancorp has an average rating of “Hold” and a consensus target price of $8.88.

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.