Equities analysts expect Valley National Bancorp (NYSE:VLY) to post $0.20 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Valley National Bancorp’s earnings. Valley National Bancorp posted earnings per share of $0.17 during the same quarter last year, which suggests a positive year-over-year growth rate of 17.6%. The company is expected to announce its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that Valley National Bancorp will report full year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.86 to $0.90. For the next year, analysts forecast that the company will report 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 research firms that follow Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. Valley National Bancorp had a return on equity of 3.95% and a net margin of 13.08%. The business had revenue of $199.57 million during the quarter, compared to analysts’ expectations of $194.26 million. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis.
Shares of Valley National Bancorp (NYSE:VLY) traded down $0.03 during trading on Friday, reaching $12.77. The company’s stock had a trading volume of 197,848 shares, compared to its average volume of 2,432,944. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.01. Valley National Bancorp has a 12-month low of $10.61 and a 12-month high of $12.87. The firm has a market capitalization of $3,383.94, a PE ratio of 22.07 and a beta of 0.96.
In related news, Director Peter J. Baum bought 3,433 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $521,792.20. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.07% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. lifted its holdings 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 valued at $115,000 after purchasing an additional 2,031 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings 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 valued at $762,000 after purchasing an additional 2,320 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Valley National Bancorp by 6.5% during 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 period. Brookstone Capital Management lifted its holdings in Valley National Bancorp by 20.2% during 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 period. Finally, Gotham Asset Management LLC lifted its holdings in Valley National Bancorp by 34.6% during 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 period. Institutional investors own 63.83% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Analysts Expect Valley National Bancorp (VLY) Will Announce Earnings of $0.20 Per Share” was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.chaffeybreeze.com/2018/02/20/analysts-expect-valley-national-bancorp-vly-will-announce-earnings-of-0-20-per-share.html.
About Valley National Bancorp
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.
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.