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

Valley National Bancorp (NASDAQ:VLY) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Tuesday, September 15th will be given a dividend of 0.11 per share on Thursday, October 1st. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Valley National Bancorp has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.1%

VLY stock opened at $14.68 on Wednesday. Valley National Bancorp has a 12-month low of $8.95 and a 12-month high of $15.20. The business’s 50-day moving average is $14.13 and its 200 day moving average is $13.19. 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 $8.13 billion, a price-to-earnings ratio of 13.23 and a beta of 1.03.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $531.89 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts anticipate that Valley National Bancorp will post 1.3 EPS for the current fiscal 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.