Brokerages Expect Valley National Bancorp (NASDAQ:VLY) Will Announce Earnings of $0.28 Per Share

Brokerages expect Valley National Bancorp (NASDAQ:VLYGet Rating) to report earnings per share (EPS) of $0.28 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Valley National Bancorp’s earnings, with estimates ranging from $0.27 to $0.30. Valley National Bancorp posted earnings per share of $0.30 during the same quarter last year, which suggests a negative year over year growth rate of 6.7%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Valley National Bancorp will report full year earnings of $1.21 per share for the current year, with EPS estimates ranging from $1.19 to $1.23. For the next year, analysts forecast that the company will report earnings of $1.37 per share, with EPS estimates ranging from $1.33 to $1.41. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Valley National Bancorp.

Valley National Bancorp (NASDAQ:VLYGet Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $356.90 million for the quarter, compared to analysts’ expectations of $350.93 million. Valley National Bancorp had a net margin of 31.53% and a return on equity of 10.35%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS.

A number of equities analysts recently issued reports on the company. Citigroup lowered their price target on Valley National Bancorp from $14.00 to $13.00 in a report on Tuesday. Zacks Investment Research raised Valley National Bancorp from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Saturday, January 8th. Finally, Wedbush started coverage on Valley National Bancorp in a research note on Monday, January 31st. They set a “hold” rating and a $15.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Buy” and a consensus target price of $14.88.

Institutional investors and hedge funds have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. acquired a new position in Valley National Bancorp during the first quarter worth $264,000. Morgan Stanley grew its stake in shares of Valley National Bancorp by 46.3% during the 2nd quarter. Morgan Stanley now owns 1,963,336 shares of the company’s stock worth $26,367,000 after purchasing an additional 621,791 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Valley National Bancorp by 8.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 44,848 shares of the company’s stock valued at $597,000 after purchasing an additional 3,583 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Valley National Bancorp by 129.4% in the third quarter. Moors & Cabot Inc. now owns 50,000 shares of the company’s stock valued at $51,000 after purchasing an additional 28,200 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Valley National Bancorp by 4.9% during the third quarter. Russell Investments Group Ltd. now owns 787,152 shares of the company’s stock worth $10,475,000 after buying an additional 36,426 shares in the last quarter. 78.90% of the stock is owned by institutional investors and hedge funds.

NASDAQ VLY opened at $12.14 on Tuesday. The firm’s fifty day moving average is $12.98 and its two-hundred day moving average is $13.69. Valley National Bancorp has a one year low of $11.66 and a one year high of $15.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $5.12 billion, a PE ratio of 10.84 and a beta of 1.08.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Tuesday, March 15th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.62%. The ex-dividend date was Monday, March 14th. Valley National Bancorp’s payout ratio is 39.29%.

Valley National Bancorp Company Profile (Get Rating)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Commercial Lending, Consumer Lending, and Investment Management segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

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

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