Valley National Bancorp (VLY) to Issue Quarterly Dividend of $0.11 on July 1st

Valley National Bancorp (NASDAQ:VLY) declared a quarterly dividend on Monday, May 18th. Investors of record on Monday, June 15th will be given a dividend of 0.11 per share on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th.

Valley National Bancorp has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Valley National Bancorp to earn $1.53 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 28.8%.

Valley National Bancorp Price Performance

Shares of VLY stock opened at $14.63 on Friday. The stock has a 50-day moving average price of $13.40 and a 200 day moving average price of $12.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 13.18 and a beta of 1.03. Valley National Bancorp has a 12 month low of $8.36 and a 12 month high of $14.70.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $531.89 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.During the same period in the previous year, the company earned $0.18 EPS. Research analysts expect that Valley National Bancorp will post 1.29 EPS for the current year.

About Valley National Bancorp

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.