Analysts expect Valley National Bancorp (NYSE:VLY) to report sales of $237.89 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Valley National Bancorp’s earnings, with the highest sales estimate coming in at $240.78 million and the lowest estimate coming in at $235.00 million. Valley National Bancorp reported sales of $187.59 million in the same quarter last year, which indicates a positive year over year growth rate of 26.8%. The firm is expected to issue its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Valley National Bancorp will report full year sales of $237.89 million for the current fiscal year, with estimates ranging from $977.00 million to $991.62 million. For the next year, analysts anticipate that the firm will report sales of $1.05 billion per share, with estimates ranging from $1.04 billion to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Valley National Bancorp had a return on equity of 8.20% and a net margin of 17.08%. The firm had revenue of $199.57 million for the quarter, compared to the consensus estimate of $194.26 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis.
Several equities analysts have commented on the company. Hovde Group reiterated a “buy” rating and set a $14.00 price target on shares of Valley National Bancorp in a report on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $14.00 price target on shares of Valley National Bancorp in a report on Monday, January 29th. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Saturday, January 13th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $15.00 price target on shares of Valley National Bancorp in a report on Friday, December 22nd. Finally, Morgan Stanley increased their price target on Valley National Bancorp from $13.00 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Valley National Bancorp currently has an average rating of “Buy” and an average target price of $13.64.
Valley National Bancorp (NYSE VLY) opened at $12.80 on Monday. Valley National Bancorp has a twelve month low of $10.61 and a twelve month high of $12.86. The company has a market capitalization of $4,220.00, a P/E ratio of 22.07 and a beta of 0.96. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.01.
In related news, Director Peter J. Baum purchased 3,433 shares of the stock in a transaction on Monday, January 29th. The shares were bought at an average price of $12.70 per share, for a total transaction of $43,599.10. Following the completion of the acquisition, the director now directly owns 41,086 shares in the company, valued at approximately $521,792.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.07% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Advisor Group Inc. grew its stake in shares of Valley National Bancorp by 26.2% in the second quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 2,031 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Valley National Bancorp by 3.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 64,548 shares of the financial services provider’s stock worth $762,000 after acquiring an additional 2,320 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Valley National Bancorp by 6.5% in the fourth quarter. Victory Capital Management Inc. now owns 78,270 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 4,748 shares during the last quarter. Brookstone Capital Management grew its stake in shares of Valley National Bancorp by 20.2% in the third quarter. Brookstone Capital Management now owns 28,697 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 4,819 shares during the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of Valley National Bancorp by 34.6% in the second quarter. Gotham Asset Management LLC now owns 19,587 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 5,030 shares during the last quarter. Institutional investors and hedge funds own 63.49% of the company’s stock.
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Valley National Bancorp Company Profile
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
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