Valley National Bancorp (NASDAQ:VLY – Get Free Report) announced its earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01), Briefing.com reports. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The firm had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. During the same period last year, the firm earned $0.30 earnings per share.
Valley National Bancorp Trading Down 5.8 %
NASDAQ VLY opened at $7.32 on Friday. Valley National Bancorp has a 1-year low of $6.39 and a 1-year high of $11.22. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.73 billion, a PE ratio of 8.61 and a beta of 1.09. The firm’s fifty day simple moving average is $7.81 and its 200-day simple moving average is $8.81.
Valley National Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 51.76%.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on VLY
Insider Transactions at Valley National Bancorp
In related news, EVP Joseph Chillura sold 49,715 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the sale, the executive vice president now directly owns 545,249 shares in the company, valued at $4,460,136.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.88% of the stock is currently owned by company insiders.
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.
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