Valley National Bancorp (NASDAQ:VLY – Get a rating) is expected to release its quarterly earnings data before the market opens on Thursday, July 28. Analysts expect the company to report earnings of $0.29 per share for the quarter. Parties wishing to register for the company’s conference call may do so using this link.
Valley National Bancorp (NASDAQ:VLY – Get a rating) last released its results on Thursday, April 28. The company reported earnings per share (EPS) of $0.28 for the quarter, beating the consensus estimate of $0.27 by $0.01. Valley National Bancorp had a net margin of 31.53% and a return on equity of 10.35%. The company posted revenue of $356.90 million in the quarter, versus analyst estimates of $350.93 million. In the same quarter a year earlier, the company posted EPS of $0.28. The company’s revenues increased by 10.2% compared to the same quarter last year. On average, analysts expect Valley National Bancorp to post EPS of $1 for the current fiscal year and EPS of $1 for the next fiscal year.
Performance of Valley National Bancorp shares
The NASDAQ VLY opened at $11.02 on Thursday. Valley National Bancorp has a 52 week low of $10.01 and a 52 week high of $15.10. The company has a debt ratio of 0.30, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50-day simple moving average of $11.25 and a 200-day simple moving average of $12.69. The company has a market capitalization of $5.58 billion, a PE ratio of 9.84 and a beta of 1.13.
Valley National Bancorp Announces Dividend
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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1. Investors of record on Wednesday, June 15 received a dividend of $0.11 per share. The ex-dividend date was Tuesday, June 14. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 3.99%. Valley National Bancorp’s dividend payout ratio is 39.29%.
Analysts set new price targets
Separately, Citigroup lowered its target price on Valley National Bancorp from $14.00 to $13.00 in a Tuesday, May 3 research note.
Institutional investors weigh in on Valley National Bancorp
A number of hedge funds have recently changed their positions in the business. Covestor Ltd increased its stake in shares of Valley National Bancorp by 73.0% during the 1st quarter. Covestor Ltd now owns 6,213 shares in the company worth $81,000 after purchasing an additional 2,622 shares during the period. Mirabella Financial Services LLP purchased a new equity stake in Valley National Bancorp in Q1 worth approximately $132,000. Easterly Investment Partners LLC purchased a new stake in Valley National Bancorp during the first quarter, valued at approximately $166,000. Captrust Financial Advisors increased its stake in shares of Valley National Bancorp by 26.1% during the 1st quarter. Captrust Financial Advisors now owns 14,807 shares of the company worth $194,000 after acquiring 3,069 additional shares in the last quarter. Finally, Natixis Advisors LP acquired a new position in Valley National Bancorp during the 1st quarter worth approximately $207,000. 78.90% of the shares are currently held by hedge funds and other institutional investors.
Company Profile Valley National Bancorp
Valley National Bancorp operates as a holding company for Valley National Bank which provides various commercial, retail, insurance and wealth management financial services products. It operates through commercial lending, consumer lending and investment management segments. The company offers interest-free, savings, NOW, money market and term deposit accounts; commercial and industrial, commercial real estate, residential mortgages and automobile loans; loans secured by the cash value of life insurance; home equity loans and lines of credit; and other secured and unsecured consumer loans.
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