Valley National Bancorp (VLY) to Release Quarterly Earnings on Wednesday
Valley National Bancorp (NYSE:VLY) is scheduled to be announcing its earnings results before the market opens on Wednesday, July 26th. Analysts expect the company to announce earnings of $0.18 per share for the quarter.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Valley National Bancorp had a return on equity of 8.08% and a net margin of 20.07%. The firm had revenue of $189.80 million during the quarter, compared to analysts’ expectations of $187.34 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts expect Valley National Bancorp to post $0.71 EPS for the current fiscal year and $0.79 EPS for the next fiscal year.
Shares of Valley National Bancorp (NYSE VLY) opened at 11.85 on Wednesday. The company has a 50 day moving average price of $11.61 and a 200 day moving average price of $11.83. Valley National Bancorp has a 12-month low of $8.90 and a 12-month high of $12.82. The firm has a market cap of $3.13 billion, a PE ratio of 17.95 and a beta of 0.90.
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Tuesday, June 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 65.67%.
VLY has been the topic of a number of recent research reports. ValuEngine raised Valley National Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Zacks Investment Research raised Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Friday, April 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $11.50 target price (up previously from $11.00) on shares of Valley National Bancorp in a research note on Friday, July 7th. Stephens initiated coverage on Valley National Bancorp in a research note on Wednesday, April 5th. They issued an “equal weight” rating on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $13.00 target price on shares of Valley National Bancorp in a research note on Monday, April 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Valley National Bancorp presently has an average rating of “Hold” and a consensus price target of $11.80.
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About Valley National Bancorp
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
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