Valley National Bancorp (VLY) to Release Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) will post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Valley National Bancorp to post earnings of $0.19 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. The business had revenue of $884.68 million during the quarter, compared to analyst estimates of $458.67 million. During the same quarter in the previous year, the company posted $0.28 EPS. 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 $9.41 on Thursday. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $8.60 and its two-hundred day moving average is $7.81. The company has a market capitalization of $4.79 billion, a P/E ratio of 13.25 and a beta of 1.08.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 61.97%.

Analyst Ratings Changes

VLY has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a report on Friday, July 26th. Barclays reduced their price objective on shares of Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Royal Bank of Canada increased their target price on shares of Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, Wedbush raised their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.88.

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.