Valley National Bancorp (VLY) To Go Ex-Dividend on September 15th

Valley National Bancorp (NASDAQ:VLY) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.11 per share on Thursday, October 1st. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 15th.

Valley National Bancorp has a dividend payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ:VLY opened at $14.52 on Thursday. Valley National Bancorp has a one year low of $8.95 and a one year high of $15.20. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 13.08 and a beta of 1.03. The company has a 50-day simple moving average of $14.16 and a 200-day simple moving average of $13.21. 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 issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $531.89 million. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, analysts predict that Valley National Bancorp will post 1.3 EPS for the current year.

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.