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

Key Points

• Valley National Bancorp has declared a quarterly dividend of $0.11, with the ex-dividend date set for December 15th and payment due on January 2nd, representing an annualized yield of 4.3%.
• The company has a dividend payout ratio of 38.6%, indicating it can comfortably cover its dividends with earnings, as analysts project an earnings per share of $1.15 for next year.
• Valley National Bancorp's stock recently opened at $10.26, and it has shown growth, with a 52-week high of $11.16 and a market capitalization of $5.74 billion.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) declared a quarterly dividend on Tuesday, October 21st. Shareholders of record on Monday, December 15th will be given a dividend of 0.11 per share on Friday, January 2nd. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, December 15th.

Valley National Bancorp has a dividend payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valley National Bancorp to earn $1.15 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 38.3%.

Valley National Bancorp Stock Up 0.4%

NASDAQ VLY opened at $10.26 on Wednesday. The stock has a market cap of $5.74 billion, a PE ratio of 13.15 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $10.48 and a two-hundred day moving average price of $9.47. Valley National Bancorp has a fifty-two week low of $7.48 and a fifty-two week high of $11.16.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $495.01 million during the quarter, compared to analysts' expectations of $495.79 million. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%.The business's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. As a group, sell-side analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Valley National Bancorp

Large investors have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Valley National Bancorp in the first quarter worth $35,000. Farther Finance Advisors LLC increased its position in Valley National Bancorp by 206.6% in the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock worth $38,000 after buying an additional 2,896 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in Valley National Bancorp in the second quarter worth $39,000. Brown Lisle Cummings Inc. acquired a new stake in Valley National Bancorp in the first quarter worth $39,000. Finally, Hantz Financial Services Inc. increased its position in Valley National Bancorp by 11,831.1% in the second quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company's stock worth $48,000 after buying an additional 5,324 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.