Valley National Bancorp (NYSE:VLY) declared a quarterly dividend on Tuesday, August 13th, NASDAQ reports. Investors of record on Friday, September 13th will be paid a dividend of 0.11 per share by the financial services provider on Tuesday, October 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Thursday, September 12th.
Valley National Bancorp has a payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings.
VLY traded up $0.16 during trading on Tuesday, reaching $10.89. 71,295 shares of the company’s stock were exchanged, compared to its average volume of 1,896,593. Valley National Bancorp has a fifty-two week low of $8.42 and a fifty-two week high of $12.25. The business has a 50 day moving average price of $10.54 and a 200 day moving average price of $10.37.
Separately, Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th.
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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