Analysts expect that Valley National Bancorp (NYSE:VLY) will announce $0.20 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Valley National Bancorp’s earnings. Valley National Bancorp posted earnings per share of $0.17 in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.6%. The business is expected to report its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Valley National Bancorp will report full year earnings of $0.88 per share for the current fiscal year, with EPS estimates ranging from $0.86 to $0.90. For the next year, analysts forecast that the company will post earnings of $1.01 per share, with EPS estimates ranging from $0.95 to $1.04. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $199.57 million during the quarter, compared to the consensus estimate of $194.26 million. Valley National Bancorp had a return on equity of 3.95% and a net margin of 13.08%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share.
A number of equities analysts have recently issued reports on VLY shares. Hovde Group restated a “buy” rating and set a $14.00 price objective 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 objective on shares of Valley National Bancorp in a research 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 objective for the company in a research report on Saturday, January 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $15.00 price objective on shares of Valley National Bancorp in a research report on Friday, December 22nd. Finally, Morgan Stanley raised their price objective on 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 assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $13.64.
In other Valley National Bancorp news, Director Peter J. Baum bought 3,433 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $12.70 per share, with a total value of $43,599.10. Following the completion of the purchase, the director now directly owns 41,086 shares of the company’s stock, valued at approximately $521,792.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.07% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Valley National Bancorp by 3.9% during the fourth quarter. BlackRock Inc. now owns 32,104,862 shares of the financial services provider’s stock worth $360,216,000 after purchasing an additional 1,193,479 shares during the period. Dimensional Fund Advisors LP grew its stake in Valley National Bancorp by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 13,160,052 shares of the financial services provider’s stock worth $158,578,000 after purchasing an additional 196,944 shares during the period. Macquarie Group Ltd. grew its stake in Valley National Bancorp by 7.6% during the third quarter. Macquarie Group Ltd. now owns 5,886,336 shares of the financial services provider’s stock worth $70,930,000 after purchasing an additional 415,470 shares during the period. Bank of New York Mellon Corp grew its stake in Valley National Bancorp by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,627,495 shares of the financial services provider’s stock worth $40,698,000 after purchasing an additional 164,874 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Valley National Bancorp by 185.6% during the third quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock worth $38,928,000 after purchasing an additional 2,099,452 shares during the period. 63.83% of the stock is owned by institutional investors and hedge funds.
Shares of Valley National Bancorp (NYSE VLY) traded down $0.03 on Friday, hitting $12.77. The stock had a trading volume of 197,848 shares, compared to its average volume of 2,432,944. Valley National Bancorp has a 52 week low of $10.61 and a 52 week high of $12.87. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $3,383.94, a P/E ratio of 22.07 and a beta of 0.96.
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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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