Valley National Bancorp (VLY) Scheduled to Post Quarterly Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY - Get Free Report) 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. Individual interested in registering for the company's earnings conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its earnings results on Thursday, January 25th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.03). Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. The business had revenue of $449.97 million during the quarter, compared to analysts' expectations of $467.49 million. During the same period last year, the business earned $0.35 earnings per share. 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

VLY traded up $0.11 during trading on Thursday, reaching $7.31. The company's stock had a trading volume of 4,098,453 shares, compared to its average volume of 6,108,513. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $7.92 and a two-hundred day simple moving average of $8.84. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 7.61 and a beta of 1.09.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp's dividend payout ratio (DPR) is 46.32%.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.88% of the company's stock.

Hedge Funds Weigh In On Valley National Bancorp

Several institutional investors have recently modified their holdings of VLY. Wellington Management Group LLP lifted its position in shares of Valley National Bancorp by 153.8% during the 1st quarter. Wellington Management Group LLP now owns 8,869,091 shares of the company's stock worth $115,476,000 after purchasing an additional 5,374,624 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Valley National Bancorp by 2,232.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,936,902 shares of the company's stock worth $55,836,000 after purchasing an additional 4,725,214 shares during the last quarter. Norges Bank purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth $47,062,000. State Street Corp lifted its position in Valley National Bancorp by 14.3% in the second quarter. State Street Corp now owns 24,116,501 shares of the company's stock valued at $189,346,000 after acquiring an additional 3,008,420 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Valley National Bancorp by 92.6% in the second quarter. Goldman Sachs Group Inc. now owns 4,415,523 shares of the company's stock valued at $34,220,000 after acquiring an additional 2,123,297 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Valley National Bancorp from $13.00 to $12.00 and set an "outperform" rating on the stock in a research note on Friday, January 26th. Wedbush reduced their price target on shares of Valley National Bancorp from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, January 26th. JPMorgan Chase & Co. reduced their price target on shares of Valley National Bancorp from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, April 4th. Morgan Stanley lifted their price target on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an "underweight" rating in a research report on Wednesday, February 7th. Finally, Barclays began coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They set an "underweight" rating and a $8.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $9.67.

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.