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Slideshow Preferreds Trading at the Largest Premiums

By Preferred Stock Channel Staff, updated Wednesday, October 26, 5:02 PM

#25. Valley National Bancorp | 7 3/4% Trust Originated Preferred Securities (NYSE:VLY.PRA) | 17.60% CURRENT PREMIUM

Premium to Liquidation Preference: 17.60%Average Premium in Category: 6.87%
Current Annualized Yield: 5.31%Average Yield in Category: 5.41%
Days Since Last Ex-Div Date: 48 | See Dividend History »Categorization: Financial

Alternate symbology:VLY-A, VLY-PA, VLYprA
Call Date:11/7/2006 (Now Trading Post Call Date)
Maturity Date:12/15/2031
Shares Offered:7,000,000
Liquidation Preference:$25
Recent Market Price:$29.38
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$4.38 (17.52%)
Annualized Dividend:1.5625
Recent Ex-Date:9/7/2016
Current Yield:5.32%
Original Coupon:7.750%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
Valley National Bancorp is a bank holding company. Co. operates through its principal subsidiary, Valley National Bank (the Bank), which provides a range of commercial, retail, insurance and wealth management financial services products. The Bank provides a variety of 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 certain international banking services to customers. At Dec 31 2015, Co. had total assets of $21.60 billion and total deposits of $16.30 billion.

Preferred: VLY.PRA

Open the VLY Information Page »
Name:  Valley National Bancorp
Sector:  Banking & Savings
Number of ETFs Holding VLY:  50 (see which ones)
Total Market Value Held by ETFs:  $250,530,113
Total Market Capitalization:  $2,507,000,000
% of Market Cap. Held by ETFs:  9.99%

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