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

Valley National Bancorp (NASDAQ:VLY) declared a quarterly dividend on Tuesday, February 24th. Investors of record on Friday, March 13th will be given a dividend of 0.11 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, March 13th.

Valley National Bancorp has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Valley National Bancorp to earn $1.15 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 38.3%.

Valley National Bancorp Trading Up 2.4%

VLY stock traded up $0.32 during trading on Wednesday, hitting $13.19. The company had a trading volume of 3,011,953 shares, compared to its average volume of 8,207,949. The stock has a market cap of $7.35 billion, a PE ratio of 13.05 and a beta of 1.10. The business has a 50-day moving average of $12.44 and a 200-day moving average of $11.34. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40. Valley National Bancorp has a one year low of $7.48 and a one year high of $13.87.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The firm had revenue of $541.25 million for the quarter, compared to the consensus estimate of $524.31 million. During the same quarter in the previous year, the company earned $0.13 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, Director Carlos J. Vazquez purchased 2,500 shares of Valley National Bancorp stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $13.45 per share, with a total value of $33,625.00. Following the transaction, the director owned 4,252 shares in the company, valued at $57,189.40. This trade represents a 142.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VLY. Mcguire Capital Advisors Inc. bought a new position in Valley National Bancorp during the fourth quarter valued at about $155,000. Mercer Global Advisors Inc. ADV grew its position in shares of Valley National Bancorp by 24.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 65,753 shares of the company’s stock valued at $768,000 after acquiring an additional 12,747 shares during the period. Vident Advisory LLC increased its stake in shares of Valley National Bancorp by 9.1% during the 4th quarter. Vident Advisory LLC now owns 11,760 shares of the company’s stock worth $137,000 after purchasing an additional 983 shares during the last quarter. State of Tennessee Department of Treasury raised its holdings in shares of Valley National Bancorp by 22.9% in the 4th quarter. State of Tennessee Department of Treasury now owns 214,791 shares of the company’s stock worth $2,676,000 after purchasing an additional 40,028 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Valley National Bancorp by 708.4% in the 4th quarter. Mackenzie Financial Corp now owns 1,451,043 shares of the company’s stock worth $17,052,000 after purchasing an additional 1,271,541 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.