Valley National Bancorp (VLY) to Release Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) is expected to be announcing its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.15 per share and revenue of $464,860.00 billion for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The company had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same quarter last year, the company earned $0.26 earnings per share. On average, analysts expect Valley National Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Valley National Bancorp Price Performance

Valley National Bancorp stock opened at $9.84 on Wednesday. Valley National Bancorp has a one year low of $6.47 and a one year 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 business has a fifty day moving average of $9.77 and a two-hundred day moving average of $8.99. The company has a market cap of $5.01 billion, a P/E ratio of 15.87 and a beta of 1.12.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is currently 70.97%.

Analyst Ratings Changes

Several research firms have recently issued reports on VLY. Citigroup cut their price target on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, December 31st. Stephens reaffirmed an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Morgan Stanley lifted their price target on Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Barclays lifted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Piper Sandler lifted their price target on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating 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 stock. According to data from MarketBeat.com, the stock presently has a consensus 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.