Valley National Bancorp (VLY) to Release Quarterly Earnings on Thursday

Valley National Bancorp (NASDAQ:VLY) will be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The firm had revenue of $449.97 million during the quarter, compared to analyst estimates of $467.49 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same quarter last year, the firm posted $0.35 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 Price Performance

Shares of NASDAQ VLY opened at $7.20 on Thursday. The company has a market capitalization of $3.66 billion, a P/E ratio of 7.58 and a beta of 1.09. Valley National Bancorp has a 52-week low of $6.39 and a 52-week high of $11.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The company’s 50 day moving average price is $7.92 and its 200-day moving average price is $8.84.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 6.11%. The ex-dividend date was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio is presently 46.32%.

Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the transaction, the executive vice president now owns 545,249 shares in the company, valued at $4,460,136.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Valley National Bancorp

A number of large investors have recently modified their holdings of VLY. Quarry LP boosted its position in shares of Valley National Bancorp by 198.1% in the first quarter. Quarry LP now owns 3,070 shares of the company’s stock valued at $28,000 after acquiring an additional 2,040 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Valley National Bancorp by 46.3% in the fourth quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock valued at $58,000 after acquiring an additional 1,631 shares during the period. Advisory Services Network LLC boosted its position in shares of Valley National Bancorp by 24.4% in the first quarter. Advisory Services Network LLC now owns 8,665 shares of the company’s stock valued at $80,000 after acquiring an additional 1,700 shares during the period. Covestor Ltd boosted its position in shares of Valley National Bancorp by 73.0% in the first quarter. Covestor Ltd now owns 6,213 shares of the company’s stock valued at $81,000 after acquiring an additional 2,622 shares during the period. Finally, KBC Group NV bought a new position in shares of Valley National Bancorp in the fourth quarter valued at approximately $91,000. 61.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VLY has been the topic of several research analyst reports. Wedbush cut their target price on shares of Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, January 26th. Morgan Stanley increased their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada lowered their target price on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. Finally, TheStreet downgraded shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp has a consensus rating of “Hold” and an average target price of $9.67.

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.