Valley National Bancorp (NYSE:VLY) declared a quarterly dividend on Wednesday, November 29th, Wall Street Journal reports. Investors of record on Friday, December 22nd will be paid a dividend of 0.11 per share by the financial services provider on Wednesday, January 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, December 21st.

Valley National Bancorp has decreased its dividend by an average of 12.2% annually over the last three years. Valley National Bancorp has a payout ratio of 63.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valley National Bancorp to earn $0.80 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 55.0%.

Shares of Valley National Bancorp (VLY) opened at $11.50 on Friday. Valley National Bancorp has a 52 week low of $10.61 and a 52 week high of $12.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market cap of $2,990.03, a price-to-earnings ratio of 15.93 and a beta of 0.89.

Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The firm had revenue of $193.00 million during the quarter, compared to analyst estimates of $195.03 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. equities analysts forecast that Valley National Bancorp will post 0.69 EPS for the current fiscal year.

Several brokerages have recently commented on VLY. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $13.00 price target on shares of Valley National Bancorp in a research report on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.67.

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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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