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

Valley National Bancorp (NASDAQ:VLY) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.11 per share on Monday, January 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, December 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 $1.52 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 28.9%.

Valley National Bancorp Trading Up 0.3%

VLY traded up $0.04 on Wednesday, reaching $12.93. 2,025,300 shares of the company’s stock were exchanged, compared to its average volume of 7,081,237. The company’s 50 day moving average is $13.50 and its 200-day moving average is $13.78. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 10.95 and a beta of 1.07. Valley National Bancorp has a twelve month low of $9.71 and a twelve month high of $15.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). The business had revenue of $560.74 million during the quarter, compared to analysts’ expectations of $557.16 million. Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. Equities analysts predict that Valley National Bancorp will post 1.27 earnings per share for the current year.

Institutional Trading of Valley National Bancorp

Several large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Valley National Bancorp during the second quarter valued at approximately $1,079,026,000. Wellington Management Group LLP lifted its position in shares of Valley National Bancorp by 29.5% during the second quarter. Wellington Management Group LLP now owns 20,091,604 shares of the company’s stock worth $294,342,000 after purchasing an additional 4,576,448 shares in the last quarter. Azora Capital LP acquired a new stake in Valley National Bancorp during the 2nd quarter valued at $150,121,000. Freestone Grove Partners LP purchased a new stake in Valley National Bancorp during the 2nd quarter worth $88,872,000. Finally, Bank of New York Mellon Corp purchased a new stake in Valley National Bancorp during the 2nd quarter worth $68,276,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Valley National Bancorp

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional bank headquartered in Wayne, New Jersey. The company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities through a network of branches and digital banking channels.

Valley National Bank offers deposit accounts, residential and commercial real estate lending, business loans, consumer loans, mortgage banking, treasury management and other commercial banking services.