Valley National Bancorp (VLY) to Issue Quarterly Dividend of $0.11 on April 1st

Valley National Bancorp (NASDAQ:VLY) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Friday, March 13th will be given a dividend of 0.11 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, March 13th.

Valley National Bancorp has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Valley National Bancorp to earn $1.15 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 38.3%.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $13.17 on Thursday. The stock has a market cap of $7.34 billion, a PE ratio of 13.04 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50-day moving average of $12.47 and a 200-day moving average of $11.35. Valley National Bancorp has a one year low of $7.48 and a one year high of $13.87.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The business had revenue of $541.25 million for the quarter, compared to analysts’ expectations of $524.31 million. During the same period in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.