Valley National Bancorp (VLY) to Release Quarterly Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) is set to release its earnings data before the market opens on Thursday, April 25th. Analysts expect Valley National Bancorp to post earnings of $0.20 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). Valley National Bancorp had a net margin of 14.82% and a return on equity of 8.67%. The company had revenue of $449.97 million during the quarter, compared to the consensus estimate of $467.49 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, analysts expect Valley National Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Valley National Bancorp Price Performance

Valley National Bancorp stock opened at $7.90 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $7.87 and its 200-day moving average is $8.83. Valley National Bancorp has a 12 month low of $6.39 and a 12 month high of $11.22. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 8.32 and a beta of 1.09.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 5.57%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 46.32%.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the sale, the executive vice president now owns 545,249 shares in the company, valued at $4,460,136.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.88% of the company’s stock.

Analyst Upgrades and Downgrades

VLY has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Citigroup cut their price objective on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods reduced their price objective on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 26th. TheStreet downgraded Valley National Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada decreased their price objective on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Valley National Bancorp has a consensus rating of “Hold” and a consensus price target of $9.67.

About Valley National Bancorp

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.