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

Valley National Bancorp (NASDAQ:VLY - Get Free Report) is anticipated to issue its quarterly earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.15 per share and revenue of $464,860.00 billion for the quarter. Individual interested in listening to the company's earnings conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same quarter last year, the company earned $0.26 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 Stock Down 1.5 %

Valley National Bancorp stock traded down $0.14 during trading hours on Thursday, reaching $9.41. The stock had a trading volume of 7,864,721 shares, compared to its average volume of 8,231,152. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 15.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The business's 50 day moving average price is $9.80 and its 200-day moving average price is $8.92.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.68%. Valley National Bancorp's dividend payout ratio (DPR) is presently 70.97%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VLY. Piper Sandler lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on Valley National Bancorp from $11.50 to $10.50 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on Valley National Bancorp from $9.50 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. StockNews.com lowered Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Valley National Bancorp currently has an average rating of "Hold" and an average target price of $10.39.

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.