Valley National Bancorp (VLY) To Go Ex-Dividend on December 15th

Valley National Bancorp (NASDAQ:VLY) declared a quarterly dividend on Tuesday, October 20th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.11 per share on Monday, January 4th. This represents a $0.44 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, December 15th.

Valley National Bancorp has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valley National Bancorp to earn $1.52 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 28.9%.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $13.02 on Thursday. The stock’s 50-day moving average is $13.46 and its 200-day moving average is $13.78. Valley National Bancorp has a 1-year low of $9.71 and a 1-year high of $15.20. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The stock has a market cap of $7.19 billion, a P/E ratio of 11.03 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. The business had revenue of $581.10 million during the quarter, compared to analyst estimates of $577.82 million. Equities research analysts anticipate that Valley National Bancorp will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on VLY. Morgan Stanley decreased their price target on shares of Valley National Bancorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. National Bank Financial set a $15.50 price target on shares of Valley National Bancorp in a report on Thursday, October 1st. Piper Sandler lifted their price target on shares of Valley National Bancorp from $16.00 to $16.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. UBS Group set a $17.00 price objective on shares of Valley National Bancorp in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $17.00 price objective on shares of Valley National Bancorp in a research note on Tuesday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of “Moderate Buy” and an average target price of $16.27.

About Valley National Bancorp

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional bank headquartered in Wayne, New Jersey. The company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities through a network of branches and digital banking channels.

Valley National Bank offers deposit accounts, residential and commercial real estate lending, business loans, consumer loans, mortgage banking, treasury management and other commercial banking services.