Valley National Bancorp (NASDAQ:VLY - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18, Briefing.com reports. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same quarter last year, the company earned $0.26 EPS.
Valley National Bancorp Stock Performance
Shares of NASDAQ VLY traded up $0.48 during mid-day trading on Thursday, hitting $9.60. The stock had a trading volume of 10,651,828 shares, compared to its average volume of 5,853,613. The firm has a market cap of $4.89 billion, a PE ratio of 13.66 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average of $8.73 and a two-hundred day moving average of $7.87. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22.
Valley National Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, September 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.58%. Valley National Bancorp's payout ratio is currently 61.97%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their price target on Valley National Bancorp from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price objective on Valley National Bancorp from $8.00 to $8.50 and gave the company a "market perform" rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $8.88.
Get Our Latest Research Report on VLY
Valley National Bancorp Company Profile
(
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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.
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