Valley National Bancorp (NASDAQ:VLY) Releases Earnings Results, Misses Expectations By $0.02 EPS

Valley National Bancorp (NASDAQ:VLY) issued its quarterly earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02), Zacks reports. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%.

Valley National Bancorp Trading Down 0.4 %

VLY opened at $9.80 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 15.81 and a beta of 1.12. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The stock has a fifty day moving average price of $9.76 and a 200-day moving average price of $9.02.

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 70.97%.

Analysts Set New Price Targets

Several research analysts have issued reports on VLY shares. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. Barclays upped their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Stephens reissued an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. decreased their target price on Valley National Bancorp from $11.50 to $10.50 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.39.

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.