Valley Natl Bancorp Stock Price, News & Analysis

Valley National Bancorp (NASDAQ:VLY) announced its regular dividends for shareholders, payable on September 30, 2022. The cash dividends include $0.390625 per share for the 6.25% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series A, and $0.34375 per share for the 5.50% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series B. Additionally, a cash dividend of $0.11 per share on common stock will be paid on October 3, 2022. The common stock cash dividend remains unchanged from the previous quarter.

Valley National Bancorp (NASDAQ:VLY) has announced a strategic investment of $25 million in The Garage, a venture capital fund focused on early-stage startups in fintech, AI, and cyber. This move aims to bolster Valley's digital transformation and provide Israeli fintech startups with faster access to the U.S. market. The Garage, managed by experienced professionals from Israel, will facilitate integration with Valley’s systems. Valley emphasizes that innovation is essential for staying relevant in a changing banking environment.

Valley National Bancorp (NASDAQ: VLY) reported Q2 2022 net income of $96.4 million, or $0.18 per diluted share, down from $120.5 million in Q2 2021. The results included $95.5 million in merger-related expenses from the acquisition of Bank Leumi USA, which added $8.1 billion in assets. Adjusted net income without these charges was $165.8 million, or $0.32 per diluted share. Loan portfolio increased by $8.2 billion to $43.6 billion. Net interest income surged to $419.6 million, largely due to organic growth and rising interest rates, though non-interest expenses rose significantly due to merger costs.

Valley National Bancorp (NASDAQ:VLY) will release its second quarter 2022 earnings before the market opens on July 28, 2022.

CEO Ira Robbins will lead a conference call at 11:00 AM ET on the same day to discuss the results. Interested participants can pre-register via a provided link to receive the dial-in number.

A live webcast of the call will be available, with an archived version accessible until August 29, 2022. Investor presentation materials will also be available prior to the call on the company's website.

Valley National Bancorp (NASDAQ:VLY) announced its quarterly dividends for shareholders of record on June 15, 2022. A cash dividend of $0.390625 per share will be paid on the 6.25% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series A, and $0.34375 per share for the 5.50% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series B, both on June 30, 2022. Additionally, a cash dividend of $0.11 per share will be distributed for common stock on July 1, 2022. The common stock dividend remains unchanged from the previous quarter.

Valley National Bancorp (NASDAQ:VLY) reported a net income of $116.7 million for Q1 2022, slightly up from $115.7 million in Q1 2021. Adjusted net income was $120.3 million. Total loans surged by $1.2 billion to $35.4 billion, driven primarily by commercial real estate and residential mortgage growth. Net interest income increased to $318.4 million, though net interest margin fell to 3.16%. Non-interest income rose to $39.3 million. Credit quality remained strong with non-accrual loans at 0.65%.

Valley National Bancorp (NASDAQ:VLY) announced a stock repurchase program authorized by its Board, allowing for the buyback of up to 25 million shares of common stock by April 25, 2024. This decision follows the termination of a previous repurchase program from 2007. The buybacks will depend on market conditions and are subject to compliance with SEC regulations. Valley operates with approximately $50 billion in assets and recently acquired Bank Leumi USA, enhancing its regional presence.

Valley National Bancorp (NASDAQ:VLY) will announce its first quarter 2022 earnings before market opening on April 28, 2022. CEO Ira Robbins will host a conference call on the same day at 11:00 AM ET to discuss the earnings report. Interested listeners can participate by calling toll-free 866-354-0432, using Conference ID 3674992, or joining via a live webcast available on Valley's website, with an archive accessible until May 30, 2022. The bank, with approximately $50 billion in assets, continues its commitment to providing comprehensive banking services across several states.

Valley National Bancorp (NASDAQ: VLY) has completed its acquisition of Bank Leumi Le-Israel Corporation as of April 1, 2022. Valley issued approximately 85 million shares and paid $113 million in cash for the transaction, with shareholders of Leumi USA receiving 3.8025 shares of Valley stock and $5.08 in cash for each of their shares. Bank Leumi brings around $8.3 billion in assets and strengthens Valley's commercial banking expertise, particularly in technology and private banking, positioning them for growth in diverse markets.