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NEW YORK ( TheStreet) -- The ex-dividend date for Valley National Bancorp (NYSE: VLY) is tomorrow, March 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $12.39 as of 9:30 a.m. ET, the dividend yield is 5.6%. The average volume for Valley has been 1.2 million shares per day over the past 30 days. Valley has a market cap of $2.19 billion and is part of the financial sector and banking industry. Shares are up 0.4% year to date as of the close of trading on Friday. Valley National Bancorp operates as the bank holding company for Valley National Bank that provides various commercial, retail, trust, and investment services. The company has a P/E ratio of 15.5, above the average banking industry P/E ratio of 15 and below the S&P 500 P/E ratio of 17.7.