Valley National Bancorp (NASDAQ:VLY – Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01), Briefing.com reports. The firm had revenue of $890.07 million for the quarter, compared to analysts’ expectations of $447.38 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same period in the previous year, the business posted $0.30 EPS.
Valley National Bancorp Stock Down 5.8 %
Shares of Valley National Bancorp stock traded down $0.45 during trading hours on Friday, reaching $7.32. The company’s stock had a trading volume of 7,038,135 shares, compared to its average volume of 6,258,373. Valley National Bancorp has a one year low of $6.39 and a one year high of $11.22. The company has a market capitalization of $3.73 billion, a P/E ratio of 8.02 and a beta of 1.09. The stock’s fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $8.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99.
Valley National Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 46.32%.
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Insider Activity 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. 1.88% of the stock is owned by insiders.
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.
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