Valley National Bancorp (NASDAQ:VLY) Announces Earnings Results, Misses Estimates By $0.02 EPS

Valley National Bancorp (NASDAQ:VLY) issued its quarterly earnings data on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02), Zacks reports. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%.

Valley National Bancorp Trading Down 0.4 %

NASDAQ VLY opened at $9.80 on Thursday. The stock has a 50-day moving average of $9.76 and a 200-day moving average of $9.02. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The firm has a market cap of $4.99 billion, a PE ratio of 15.81 and a beta of 1.12.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.11 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.49%. Valley National Bancorp’s payout ratio is 70.97%.

Analysts Set New Price Targets

A number of research analysts recently commented on VLY shares. Wedbush reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a research note on Friday, October 25th. Barclays upped their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada lifted their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Citigroup decreased their price target on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.39.

Valley National Bancorp Company Profile

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.