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

Valley National Bancorp (NASDAQ:VLY) is scheduled to be releasing 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. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $467.49 million. During the same quarter in the prior year, the company earned $0.35 EPS. 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 Stock Up 0.5 %

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

Valley National Bancorp Dividend Announcement

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

Insider Buying and Selling at Valley National Bancorp

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TheStreet lowered shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. Barclays assumed coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 price objective on the stock. Morgan Stanley increased their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 7th. Citigroup dropped their price target on 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. Finally, StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.