Valley National Bancorp (VLY) Scheduled to Post Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) is scheduled to 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. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. The business had revenue of $884.68 million during the quarter, compared to the consensus estimate of $458.67 million. During the same period 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 Trading Up 0.6 %

NASDAQ:VLY opened at $8.99 on Wednesday. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 10.58 and a beta of 1.08. The business has a fifty day moving average of $8.69 and a 200-day moving average of $7.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.44 annualized dividend and a yield of 4.89%. Valley National Bancorp’s dividend payout ratio is currently 51.76%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Wedbush upped their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Morgan Stanley upped their target price on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upped their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their target price on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.88.

Valley National Bancorp Company Profile

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.