Valley National Bancorp (NASDAQ:VLY) Declares Quarterly Dividend of $0.11

Key Points

• Valley National Bancorp declared a quarterly dividend of $0.11 per share, payable on October 1 to shareholders of record on September 15. The stock’s dividend yield is about 3.0%.
• The company’s dividend appears well covered, with a 38.6% payout ratio. Analysts expect future earnings to support the dividend, with a projected payout ratio of 28.8% next year.
• Valley National Bancorp recently beat earnings expectations, reporting $0.29 EPS versus $0.27 expected, while revenue came in well above estimates. The stock was trading around $14.68 and is near its 1-year high of $15.20.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) declared a quarterly dividend on Tuesday, July 21st. Stockholders 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 dividend 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 Trading Up 0.1%

Shares of Valley National Bancorp stock opened at $14.68 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $8.13 billion, a PE ratio of 13.23 and a beta of 1.03. Valley National Bancorp has a 1-year low of $8.95 and a 1-year high of $15.20. The company's fifty day simple moving average is $14.13 and its 200-day simple moving average is $13.19.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $531.89 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.During the same period in the previous year, the company posted $0.18 EPS. As a group, equities analysts anticipate that Valley National Bancorp will post 1.3 earnings per share for the current year.

Valley National Bancorp Company Profile

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.

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