Valley National Bancorp (VLY) Announces Quarterly Dividend of $0.11
Valley National Bancorp (NYSE:VLY) declared a quarterly dividend on Wednesday, August 20th, American Banking & Market News reports. Investors of record on Monday, September 15th will be given a dividend of 0.11 per share on Wednesday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 4.44%.
On a related note, analysts at Keefe, Bruyette & Woods raised their price target on shares of Valley National Bancorp from $9.50 to $10.00 in a research note on Friday, August 1st. They now have a “market perform” rating on the stock.
Valley National Bancorp (NYSE:VLY) traded down 0.61% during mid-day trading on Wednesday, hitting $9.85. The stock had a trading volume of 592,534 shares. Valley National Bancorp has a 52 week low of $9.28 and a 52 week high of $10.81. The stock’s 50-day moving average is $9.77 and its 200-day moving average is $9.9. The company has a market cap of $1.976 billion and a price-to-earnings ratio of 15.25.
Valley National Bancorp (NYSE:VLY) last announced its earnings results on Wednesday, July 30th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.01. The company had revenue of $129.83 million for the quarter, compared to the consensus estimate of $135.40 million. During the same quarter last year, the company posted $0.17 earnings per share. Valley National Bancorp’s revenue was down 9.1% compared to the same quarter last year. On average, analysts predict that Valley National Bancorp will post $0.59 earnings per share for the current fiscal year.
Valley National Bancorp (NYSE:VLY) is a bank holding company.
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