Valley National Bancorp (NASDAQ:VLY – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07), Briefing.com reports. The firm had revenue of $884.68 million during the quarter, compared to analyst estimates of $458.67 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same quarter in the prior year, the business earned $0.28 EPS.
Valley National Bancorp Trading Up 2.0 %
Valley National Bancorp stock traded up $0.16 during mid-day trading on Friday, hitting $8.23. 6,156,567 shares of the stock were exchanged, compared to its average volume of 5,915,995. The company has a quick ratio of 1.00, a current ratio of 1.00 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 firm’s fifty day simple moving average is $7.14 and its two-hundred day simple moving average is $7.92. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 9.68 and a beta of 1.08.
Valley National Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Thursday, June 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.44 annualized dividend and a yield of 5.35%. Valley National Bancorp’s dividend payout ratio is presently 51.76%.
Insiders Place Their Bets
Analysts Set New Price Targets
A number of analysts have commented on the stock. 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 note on Friday. Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Valley National Bancorp in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research report on Friday. StockNews.com raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Valley National Bancorp has an average rating of “Hold” and an average target price of $8.61.
View Our Latest Stock Analysis on Valley National Bancorp
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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