Valley National Bancorp (VLY) to Release Earnings on Thursday

Valley National Bancorp (NASDAQ:VLYGet Rating) is scheduled to be announcing its earnings results before the market opens on Thursday, April 28th. Analysts expect the company to announce earnings of $0.27 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:VLYGet Rating) last issued its earnings results on Thursday, January 27th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $353.52 million during the quarter, compared to analysts’ expectations of $341.93 million. Valley National Bancorp had a return on equity of 10.49% and a net margin of 31.82%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 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.

VLY stock opened at $12.88 on Thursday. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 11.40 and a beta of 1.10. The business has a fifty day moving average of $13.35 and a two-hundred day moving average of $13.79. Valley National Bancorp has a 52-week low of $11.66 and a 52-week high of $15.10. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.30.

The company also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Tuesday, March 15th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, March 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 38.94%.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Saturday, January 8th. Wedbush initiated coverage on Valley National Bancorp in a research report on Monday, January 31st. They issued a “hold” rating and a $15.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Valley National Bancorp currently has an average rating of “Buy” and an average price target of $15.15.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Valley National Bancorp by 1.5% during the 4th quarter. BlackRock Inc. now owns 55,059,207 shares of the company’s stock worth $757,064,000 after buying an additional 821,144 shares during the last quarter. Morgan Stanley grew its holdings in Valley National Bancorp by 46.3% in the 2nd quarter. Morgan Stanley now owns 1,963,336 shares of the company’s stock worth $26,367,000 after buying an additional 621,791 shares in the last quarter. Millennium Management LLC raised its stake in Valley National Bancorp by 76.5% during the 4th quarter. Millennium Management LLC now owns 1,200,212 shares of the company’s stock valued at $16,503,000 after purchasing an additional 520,086 shares during the period. Sei Investments Co. increased its position in Valley National Bancorp by 26.3% during the fourth quarter. Sei Investments Co. now owns 958,720 shares of the company’s stock worth $13,182,000 after buying an additional 199,394 shares during the last quarter. Finally, Barclays PLC increased its holdings in Valley National Bancorp by 46.1% in the 4th quarter. Barclays PLC now owns 933,390 shares of the company’s stock valued at $12,834,000 after buying an additional 294,440 shares during the period. 63.62% of the stock is owned by hedge funds and other institutional investors.

Valley National Bancorp Company Profile (Get Rating)

Valley National Bancorp operates as the holding company for Valley National Bank that 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 non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

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Earnings History for Valley National Bancorp (NASDAQ:VLY)

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