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

Valley National Bancorp (NASDAQ:VLY – Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.11 per share on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Valley National Bancorp has a dividend payout ratio of 38.6% meaning 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%.

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Valley National Bancorp Stock Up 0.1%

Shares of Valley National Bancorp stock opened at $14.68 on Wednesday. Valley National Bancorp has a one year low of $8.95 and a one year high of $15.20. The company has a market cap of $8.13 billion, a P/E ratio of 13.23 and a beta of 1.03. 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 firm has a fifty day moving average of $14.13 and a two-hundred day moving average of $13.19.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 net margin of 18.61% and a return on equity of 8.68%. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, analysts forecast that Valley National Bancorp will post 1.3 earnings per share for the current 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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