Zacks: Analysts Expect Valley National Bancorp (VLY) to Post $0.17 Earnings Per Share

Analysts expect Valley National Bancorp (NYSE:VLY) to announce earnings of $0.17 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Valley National Bancorp’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.18. Valley National Bancorp posted earnings of $0.19 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.5%. The business is scheduled to report its next earnings results before the market opens on Thursday, January 25th.

According to Zacks, analysts expect that Valley National Bancorp will report full year earnings of $0.68 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.69. For the next financial year, analysts forecast that the firm will report earnings of $0.78 per share, with EPS estimates ranging from $0.73 to $0.81. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Valley National Bancorp.

Valley National Bancorp (NYSE:VLY) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business had revenue of $193.00 million for the quarter, compared to the consensus estimate of $195.03 million. During the same quarter in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis.

Several equities research analysts recently commented on VLY shares. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Royal Bank of Canada assumed coverage on Valley National Bancorp in a research note on Thursday, December 21st. They set an “outperform” rating and a $14.00 price target on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $15.00 price target on shares of Valley National Bancorp in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.14.

Several institutional investors and hedge funds have recently modified their holdings of VLY. Russell Investments Group Ltd. increased its position in shares of Valley National Bancorp by 12,762.5% during the second quarter. Russell Investments Group Ltd. now owns 142,002 shares of the financial services provider’s stock valued at $1,677,000 after acquiring an additional 140,898 shares during the last quarter. Strs Ohio grew its holdings in Valley National Bancorp by 6.0% during the second quarter. Strs Ohio now owns 26,400 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 1,500 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Valley National Bancorp by 1.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,511,946 shares of the financial services provider’s stock valued at $17,857,000 after purchasing an additional 24,768 shares during the period. First Trust Advisors LP grew its holdings in Valley National Bancorp by 84.0% during the second quarter. First Trust Advisors LP now owns 515,564 shares of the financial services provider’s stock valued at $6,089,000 after purchasing an additional 235,378 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Valley National Bancorp by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 3,479,101 shares of the financial services provider’s stock valued at $41,088,000 after purchasing an additional 62,617 shares during the period. 63.83% of the stock is owned by institutional investors.

Shares of Valley National Bancorp (NYSE:VLY) traded down $0.12 during trading on Thursday, hitting $11.22. The company had a trading volume of 1,934,097 shares, compared to its average volume of 2,014,064. Valley National Bancorp has a 52 week low of $10.61 and a 52 week high of $12.82. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The company has a market cap of $2,966.23, a price-to-earnings ratio of 16.50 and a beta of 0.89.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, December 21st. Valley National Bancorp’s dividend payout ratio (DPR) is presently 64.71%.

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

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