Valley National Bancorp (NYSE:VLY) announced a dividend on Tuesday, August 22nd, Fidelity reports. Investors of record on Friday, September 15th will be paid a dividend of 0.11 per share by the financial services provider on Monday, October 2nd. The ex-dividend date of this dividend is Thursday, September 14th.

Valley National Bancorp has decreased its dividend payment by an average of 12.2% per year over the last three years. Valley National Bancorp has a payout ratio of 62.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Valley National Bancorp to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 53.0%.

Shares of Valley National Bancorp (NYSE VLY) traded up 0.19% during mid-day trading on Friday, reaching $10.73. 2,585,890 shares of the company were exchanged. Valley National Bancorp has a 12 month low of $9.23 and a 12 month high of $12.82. The stock has a 50 day moving average price of $11.45 and a 200-day moving average price of $11.76. The stock has a market capitalization of $2.83 billion, a P/E ratio of 15.33 and a beta of 0.91.

Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $195.79 million for the quarter, compared to analyst estimates of $190.83 million. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. During the same period in the previous year, the firm earned $0.15 EPS. Analysts predict that Valley National Bancorp will post $0.71 earnings per share for the current year.

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Several research firms recently commented on VLY. Zacks Investment Research lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. BidaskClub lowered shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and issued a $11.50 price objective (up from $11.00) on shares of Valley National Bancorp in a research report on Friday, July 7th. Keefe, Bruyette & Woods upgraded shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research report on Thursday, July 27th. Finally, ValuEngine upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.67.

In other Valley National Bancorp news, Director Mary Guilfoile sold 5,140 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $11.92, for a total value of $61,268.80. Following the transaction, the director now directly owns 258,719 shares in the company, valued at approximately $3,083,930.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.07% of the stock is currently owned by corporate insiders.

Valley National Bancorp Company Profile

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.

Dividend History for Valley National Bancorp (NYSE:VLY)

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