Valley National Bancorp (VLY) Projected to Post Quarterly Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) is expected to be releasing its earnings data before the market opens on Thursday, January 23rd. Analysts expect Valley National Bancorp to post earnings of $0.15 per share and revenue of $464,860.00 billion for the quarter.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The company had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same quarter in the prior year, the company posted $0.26 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 Stock Up 4.8 %

Shares of NASDAQ:VLY opened at $9.55 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The stock has a market capitalization of $4.86 billion, a P/E ratio of 15.40 and a beta of 1.12. The stock has a 50-day simple moving average of $9.82 and a 200-day simple moving average of $8.91.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp’s payout ratio is currently 70.97%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler boosted their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on Valley National Bancorp from $11.50 to $10.50 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stephens restated an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a report on Thursday, January 2nd. Morgan Stanley upped their price target on Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Wedbush restated a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.39.

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.