Valley National Bancorp (NASDAQ:VLYPO) Sees Significant Drop in Short Interest

Valley National Bancorp (NASDAQ:VLYPO) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 2,467 shares, a decline of 70.4% from the May 31st total of 8,345 shares. Based on an average daily trading volume, of 3,630 shares, the short-interest ratio is currently 0.7 days.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLYPO opened at $24.70 on Friday. Valley National Bancorp has a 12-month low of $24.10 and a 12-month high of $25.74. The firm’s 50-day moving average price is $24.96 and its 200-day moving average price is $25.01.

Valley National Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.4817 per share. This represents a $1.93 dividend on an annualized basis and a yield of 7.8%. This is a boost from Valley National Bancorp’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, June 15th.

About Valley National Bancorp

Valley National Bancorp is a bank holding company headquartered in Wayne, New Jersey, operating through its primary subsidiary, Valley National Bank. The company provides a full range of commercial and consumer banking services, including deposit accounts, lending products, and treasury management. Valley National Bancorp also offers mortgage origination, residential mortgage servicing, wealth management, insurance, and trust services to individuals, small businesses, and middle-market companies.

In its commercial banking segment, Valley National Bancorp serves clients with business checking and savings accounts, commercial and industrial loans, equipment leasing and financing, and treasury management solutions.