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

Valley National Bancorp (NASDAQ:VLY) announced a quarterly dividend on Monday, May 18th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.11 per share on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, June 15th.

Valley National Bancorp has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valley National Bancorp to earn $1.53 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 28.8%.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $13.07 on Tuesday. The firm has a market capitalization of $7.24 billion, a P/E ratio of 11.77 and a beta of 1.04. Valley National Bancorp has a one year low of $8.36 and a one year high of $14.12. The company’s fifty day moving average is $12.75 and its two-hundred day moving average is $12.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $531.89 million. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. During the same period in the previous year, the firm earned $0.18 EPS. Analysts forecast that Valley National Bancorp will post 1.29 EPS for the current fiscal 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.