$237.89 Million in Sales Expected for Valley National Bancorp (VLY) This Quarter

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.

ILLEGAL ACTIVITY WARNING: “$237.89 Million in Sales Expected for Valley National Bancorp (VLY) This Quarter” was originally published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.thelincolnianonline.com/2018/02/19/237-89-million-in-sales-expected-for-valley-national-bancorp-vly-this-quarter.html.

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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$237.89 Million in Sales Expected for Valley National Bancorp (VLY) This Quarter

Brokerages expect Valley National Bancorp (NYSE:VLY) to post $237.89 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Valley National Bancorp’s earnings, with the lowest sales estimate coming in at $235.00 million and the highest estimate coming in at $240.78 million. Valley National Bancorp reported sales of $187.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.8%. The business is scheduled to announce its next quarterly 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 year, with estimates ranging from $977.00 million to $991.62 million. For the next year, analysts anticipate that the business will post sales of $1.05 billion per share, with estimates ranging from $1.04 billion to $1.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Valley National Bancorp.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Valley National Bancorp had a net margin of 17.08% and a return on equity of 8.20%. The firm had revenue of $199.57 million during the quarter, compared to the consensus estimate of $194.26 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.

Several research analysts recently weighed in on VLY shares. Hovde Group restated a “buy” rating and set a $14.00 price target on shares of Valley National Bancorp in a research report on Wednesday, January 31st. Piper Jaffray Companies restated a “buy” rating and set a $14.00 price target on shares of Valley National Bancorp in a research report on Monday, January 29th. Zacks Investment Research upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Saturday, January 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $15.00 price target on shares of Valley National Bancorp in a research report on Friday, December 22nd. Finally, Morgan Stanley upped their price target on shares of Valley National Bancorp from $13.00 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Valley National Bancorp has a consensus rating of “Buy” and a consensus target price of $13.64.

In other Valley National Bancorp news, Director Peter J. Baum acquired 3,433 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $12.70 per share, with a total value of $43,599.10. Following the purchase, the director now owns 41,086 shares in the company, valued at $521,792.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.07% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in VLY. Advisor Group Inc. grew its stake in Valley National Bancorp by 26.2% during the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 2,031 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Valley National Bancorp in the 3rd quarter valued at approximately $126,000. Csenge Advisory Group purchased a new stake in shares of Valley National Bancorp in the 3rd quarter valued at approximately $145,000. Eqis Capital Management Inc. purchased a new stake in shares of Valley National Bancorp in the 3rd quarter valued at approximately $151,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Valley National Bancorp by 58.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,749 shares of the financial services provider’s stock valued at $166,000 after buying an additional 5,429 shares during the period. 63.49% of the stock is owned by institutional investors.

Valley National Bancorp (VLY) opened at $12.80 on Monday. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $12.86. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $4,220.00, a PE ratio of 22.07 and a beta of 0.96.

TRADEMARK VIOLATION NOTICE: “$237.89 Million in Sales Expected for Valley National Bancorp (VLY) This Quarter” was originally posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.thelincolnianonline.com/2018/02/19/237-89-million-in-sales-expected-for-valley-national-bancorp-vly-this-quarter.html.

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.

Get a free copy of the Zacks research report on Valley National Bancorp (VLY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

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