Valley National Bancorp (NASDAQ:VLY) Releases Earnings Results, Misses Estimates By $0.02 EPS

Valley National Bancorp (NASDAQ:VLY) posted its quarterly earnings data on Thursday. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02), Zacks reports. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same quarter last year, the company posted $0.22 EPS.

Valley National Bancorp Stock Performance

Valley National Bancorp stock opened at $10.17 on Friday. The stock has a market cap of $5.18 billion, a P/E ratio of 16.40 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $9.75 and a 200-day moving average of $9.05. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s dividend payout ratio is presently 70.97%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada increased their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Barclays increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.56.

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.