$0.30 Earnings Per Share Expected for Valley National Bancorp (NASDAQ:VLY) This Quarter

Equities analysts predict that Valley National Bancorp (NASDAQ:VLY) will post $0.30 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Valley National Bancorp’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.29. Valley National Bancorp posted earnings per share of $0.25 in the same quarter last year, which suggests a positive year over year growth rate of 20%. The company is scheduled to issue its next quarterly earnings report on Thursday, October 28th.

On average, analysts expect that Valley National Bancorp will report full-year earnings of $1.18 per share for the current fiscal year, with EPS estimates ranging from $1.16 to $1.20. For the next year, analysts expect that the company will post earnings of $1.17 per share, with EPS estimates ranging from $1.14 to $1.18. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Valley National Bancorp.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Wednesday, July 21st. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Valley National Bancorp had a return on equity of 10.40% and a net margin of 29.44%. The firm had revenue of $344.03 million for the quarter, compared to analyst estimates of $337.63 million. During the same quarter last year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis.

A number of brokerages recently weighed in on VLY. Citigroup raised Valley National Bancorp from a “sell” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Friday. Hovde Group raised Valley National Bancorp from a “market perform” rating to an “outperform” rating in a report on Friday, September 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.13.

Shares of VLY stock opened at $13.18 on Friday. Valley National Bancorp has a 1-year low of $6.50 and a 1-year high of $14.74. The stock’s 50-day moving average is $12.83 and its 200 day moving average is $13.48. The company has a market cap of $5.35 billion, a P/E ratio of 12.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 0.99.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, September 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 45.83%.

A number of hedge funds have recently made changes to their positions in VLY. Parametric Portfolio Associates LLC increased its position in shares of Valley National Bancorp by 1.7% in the second quarter. Parametric Portfolio Associates LLC now owns 592,565 shares of the company’s stock valued at $7,958,000 after buying an additional 9,829 shares in the last quarter. Morgan Stanley increased its position in shares of Valley National Bancorp by 46.3% in the second quarter. Morgan Stanley now owns 1,963,336 shares of the company’s stock valued at $26,367,000 after buying an additional 621,791 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Valley National Bancorp by 96.7% in the second quarter. 1832 Asset Management L.P. now owns 28,888 shares of the company’s stock valued at $384,000 after buying an additional 14,203 shares in the last quarter. Invesco Ltd. increased its position in shares of Valley National Bancorp by 9.2% in the second quarter. Invesco Ltd. now owns 1,059,475 shares of the company’s stock valued at $14,229,000 after buying an additional 89,199 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in shares of Valley National Bancorp by 102,797.1% in the second quarter. Metropolitan Life Insurance Co NY now owns 176,983 shares of the company’s stock valued at $2,377,000 after buying an additional 176,811 shares in the last quarter. Institutional investors own 63.20% of the company’s stock.

Valley National Bancorp Company Profile

Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending; Commercial Lending; Investment Management; and Corporate and Other Adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management and insurance services.

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Earnings History and Estimates for Valley National Bancorp (NASDAQ:VLY)

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