Valley National Bancorp (NASDAQ:VLY – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01), Briefing.com reports. The firm had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same period in the previous year, the firm posted $0.30 EPS.
Valley National Bancorp Stock Down 5.8 %
Shares of NASDAQ:VLY opened at $7.32 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market capitalization of $3.73 billion, a PE ratio of 8.61 and a beta of 1.09. The firm’s 50-day moving average is $7.81 and its two-hundred day moving average is $8.82. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22.
Valley National Bancorp Announces Dividend
The firm also recently declared 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 of this dividend was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 6.01%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 51.76%.
Insiders Place Their Bets
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on VLY shares. Citigroup lowered their price target 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. Morgan Stanley boosted their price target on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. Barclays began coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They set an “underweight” rating and a $8.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Finally, StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.33.
Read Our Latest Report on Valley National Bancorp
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.
Featured Stories
- Five stocks we like better than Valley National Bancorp
- Upcoming IPO Stock Lockup Period, Explained
- MarketBeat Week in Review – 4/22 – 4/26
- Industrial Products Stocks Investing
- 3 Stocks Leading the U.S. Agriculture Comeback
- Investing In Automotive Stocks
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.