Valley National Bancorp (NASDAQ:VLY - Get Free Report) released its earnings results on Thursday. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02), Zacks reports. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the previous year, the firm posted $0.22 earnings per share.
Valley National Bancorp Price Performance
Valley National Bancorp stock traded down $0.02 during midday trading on Thursday, reaching $9.78. 11,582,708 shares of the stock traded hands, compared to its average volume of 8,555,817. The stock has a market cap of $4.98 billion, a P/E ratio of 15.77 and a beta of 1.12. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The stock's fifty day moving average is $9.76 and its 200-day moving average is $9.02. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50.
Valley National Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp's dividend payout ratio (DPR) is 70.97%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on VLY. JPMorgan Chase & Co. lowered their target price on Valley National Bancorp from $11.50 to $10.50 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Morgan Stanley boosted their price target on 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. Barclays boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Finally, Wedbush restated a "neutral" rating and issued a $10.00 price target on shares of Valley National Bancorp in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Valley National Bancorp presently has a consensus rating of "Hold" and a consensus price target of $10.39.
Check Out Our Latest Stock Analysis on VLY
Valley National Bancorp Company Profile
(
Get Free Report)
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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