Valley National Bancorp (VLY) to Release Quarterly Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) will issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The firm had revenue of $449.97 million during the quarter, compared to analyst estimates of $467.49 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same quarter last year, the business posted $0.35 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 Price Performance

NASDAQ:VLY opened at $7.20 on Thursday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 7.58 and a beta of 1.09. Valley National Bancorp has a one year low of $6.39 and a one year high of $11.22. The stock has a 50-day simple moving average of $7.92 and a 200 day simple moving average of $8.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 6.11%. Valley National Bancorp’s payout ratio is currently 46.32%.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the transaction, the executive vice president now owns 545,249 shares of the company’s stock, valued at $4,460,136.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Valley National Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in VLY. Quarry LP grew its holdings in shares of Valley National Bancorp by 198.1% during the 1st quarter. Quarry LP now owns 3,070 shares of the company’s stock valued at $28,000 after acquiring an additional 2,040 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Valley National Bancorp by 46.3% during the 4th quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock valued at $58,000 after acquiring an additional 1,631 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Valley National Bancorp by 24.4% during the 1st quarter. Advisory Services Network LLC now owns 8,665 shares of the company’s stock valued at $80,000 after acquiring an additional 1,700 shares in the last quarter. Covestor Ltd grew its holdings in shares of Valley National Bancorp by 73.0% during the 1st quarter. Covestor Ltd now owns 6,213 shares of the company’s stock valued at $81,000 after acquiring an additional 2,622 shares in the last quarter. Finally, KBC Group NV purchased a new position in shares of Valley National Bancorp during the 4th quarter valued at $91,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on VLY. Barclays began coverage on Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 target price for the company. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Royal Bank of Canada cut their price target on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. cut their price target on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th. Finally, Wedbush cut their price target on Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.67.

About Valley National Bancorp

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.