Valley National Bancorp (VLY) to Release Quarterly Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) is scheduled to be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The business had revenue of $449.97 million during the quarter, compared to analyst estimates of $467.49 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same period in the prior year, the business posted $0.35 EPS. On average, analysts expect Valley National Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $7.86 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $4.00 billion, a PE ratio of 8.27 and a beta of 1.09. The business has a 50-day simple moving average of $7.87 and a two-hundred day simple moving average of $8.83. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $11.22.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 46.32%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup decreased their target price on Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Keefe, Bruyette & Woods lowered their price objective on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Barclays assumed coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 target price for the company. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, Morgan Stanley increased their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Hold” and an average target price of $9.67.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 49,715 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the transaction, the executive vice president now owns 545,249 shares in the company, valued at $4,460,136.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.88% of the stock is owned by company insiders.

About Valley National Bancorp

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.