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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 9:26 AM

Slide #45. Valley National Bancorp Preferred Stock Offering

Company: Valley National Bancorp (NYSE:VLY)
Date announced: 7/26/2017
Shares Offered: 4,000,000
Date of Pricing: 7/27/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Valley National Bancorp ("Valley") (NYSE: VLY) today announced that it has commenced a public offering of its non-cumulative perpetual preferred stock (the "Preferred Stock"). -updated 7/27- Valley National Bancorp ("Valley") (NYSE: VLY) today announced that it priced 4,000,000 shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (the "Preferred Stock"). The Preferred Stock will be issued at a public offering price of $25.00 per share. Dividends on the Preferred Stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 5.50% from the original issue date to, but excluding September 30, 2022, and thereafter at a floating rate per annum equal to three-month LIBOR plus a spread of 3.578%.

Valley National Bancorp is a bank holding company. Through its subsidiary, Valley National Bank (the Bank), Co. provides commercial, retail, insurance and wealth management financial services products. The Bank provides banking services including automated teller machines, telephone and internet banking, remote deposit capture, overdraft facilities, drive-in and night deposit services, and safe deposit facilities. The Bank also provides international banking services including standby letters of credit, documentary letters of credit and related products, and certain ancillary services. As of Dec 31 2016, Co. had total assets of $22.86 billion and total deposits of $17.73 billion.

Preferred: VLY.PRA

Open the VLY Page at Ru Back Packer »

Name: Valley National Bancorp (NJ)
Sector: Banking & Savings
Number of ETFs Holding VLY: 49 (see which ones)
Total Market Value Held by ETFs: $565,882,753
Total Market Capitalization: $3,357,000,000
% of Market Cap. Held by ETFs: 16.86%

Open the VLY Page at Ru Back Packer (in a new window) »

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