Valley National Bancorp (NYSE:VLY) declared a quarterly dividend on Friday, November 16th, Wall Street Journal reports. Shareholders of record on Friday, December 14th will be paid a dividend of 0.11 per share by the financial services provider on Wednesday, January 2nd. This represents a $0.44 annualized dividend and a yield of 4.36%. The ex-dividend date is Thursday, December 13th.
Valley National Bancorp has a payout ratio of 51.8% indicating that its dividend is sufficiently covered by earnings.
NYSE:VLY opened at $10.09 on Friday. Valley National Bancorp has a fifty-two week low of $9.32 and a fifty-two week high of $13.38.
A number of equities analysts have recently weighed in on VLY shares. Zacks Investment Research cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. ValuEngine cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, TheStreet cut shares of Valley National Bancorp from a “b” rating to a “c+” rating in a research note on Friday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.97.
In other news, Director Gerald Korde sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $10.03, for a total transaction of $30,090.00. Following the transaction, the director now directly owns 659,111 shares of the company’s stock, valued at approximately $6,610,883.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.45% of the company’s stock.
Valley National Bancorp Company Profile
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.
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