Valley National Bancorp (VLY) to Issue Quarterly Dividend of $0.11 on July 1st

Valley National Bancorp (NASDAQ:VLY) declared a quarterly dividend on Monday, May 18th. Investors of record on Monday, June 15th will be paid a dividend of 0.11 per share on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, June 15th.

Valley National Bancorp has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Valley National Bancorp to earn $1.53 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 28.8%.

Valley National Bancorp Trading Down 1.1%

Shares of Valley National Bancorp stock opened at $12.93 on Wednesday. The company has a market capitalization of $7.16 billion, a P/E ratio of 11.65 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The company has a fifty day moving average of $12.76 and a 200 day moving average of $12.27. Valley National Bancorp has a fifty-two week low of $8.36 and a fifty-two week high of $14.12.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $531.89 million. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, sell-side analysts anticipate that Valley National Bancorp will post 1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Russell Barrett sold 90,537 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the sale, the chief operating officer directly owned 64,167 shares in the company, valued at approximately $868,821.18. This represents a 58.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Institutional Trading of Valley National Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VLY. Azora Capital LP purchased a new stake in Valley National Bancorp in the 3rd quarter worth about $103,120,000. Marshall Wace LLP raised its position in Valley National Bancorp by 1,013.8% in the 4th quarter. Marshall Wace LLP now owns 6,831,049 shares of the company’s stock worth $79,787,000 after purchasing an additional 6,217,716 shares during the period. Norges Bank purchased a new stake in Valley National Bancorp in the 4th quarter worth about $71,554,000. UBS Group AG raised its position in Valley National Bancorp by 404.7% in the 3rd quarter. UBS Group AG now owns 5,867,611 shares of the company’s stock worth $62,197,000 after purchasing an additional 4,704,971 shares during the period. Finally, Squarepoint Ops LLC raised its position in Valley National Bancorp by 260.8% in the 4th quarter. Squarepoint Ops LLC now owns 5,239,435 shares of the company’s stock worth $61,197,000 after purchasing an additional 3,787,203 shares during the period. 61.00% of the stock is 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.