Valley National Bancorp (NASDAQ:VLY) Declares Quarterly Dividend of $0.11

Valley National Bancorp (NASDAQ:VLY) declared 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 dividend payout ratio of 38.6% meaning 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 Up 2.2%

VLY stock traded up $0.29 during trading on Wednesday, reaching $13.16. 2,686,049 shares of the stock were exchanged, compared to its average volume of 8,197,759. The firm’s 50 day moving average is $12.44 and its 200 day moving average is $11.34. The firm has a market cap of $7.34 billion, a P/E ratio of 13.02 and a beta of 1.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40. Valley National Bancorp has a twelve month low of $7.48 and a twelve month high of $13.87.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The company had revenue of $541.25 million for the quarter, compared to analyst estimates of $524.31 million. During the same period in the prior year, the firm earned $0.13 earnings per share. Valley National Bancorp’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Valley National Bancorp will post 0.99 EPS for the current year.

About Valley National Bancorp

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.