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

Valley National Bancorp (NASDAQ:VLY – Get Free Report) declared a quarterly dividend on Monday, May 18th. Stockholders of record on Monday, June 15th will be given a dividend of 0.11 per share on Wednesday, July 1st. This represents a c) dividend on an annualized basis 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. Equities 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%.

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Valley National Bancorp Trading Up 1.1%

VLY opened at $13.07 on Tuesday. Valley National Bancorp has a one year low of $8.36 and a one year high of $14.12. The company has a market cap of $7.24 billion, a P/E ratio of 11.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50-day simple moving average is $12.75 and its 200-day simple moving average is $12.25.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 business posted $0.18 EPS. As a group, equities research analysts expect that Valley National Bancorp will post 1.29 EPS for the current fiscal year.

Valley National Bancorp Company Profile

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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.

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