Valley National Bancorp (NASDAQ:VLY) Expected to Post Q2 2024 Earnings of $0.21 Per Share

Valley National Bancorp (NASDAQ:VLY) – Investment analysts at Wedbush reduced their Q2 2024 EPS estimates for shares of Valley National Bancorp in a note issued to investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now anticipates that the company will earn $0.21 per share for the quarter, down from their prior estimate of $0.22. Wedbush has a “Neutral” rating and a $8.00 price target on the stock. The consensus estimate for Valley National Bancorp’s current full-year earnings is $0.90 per share. Wedbush also issued estimates for Valley National Bancorp’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.29 EPS and FY2025 earnings at $1.15 EPS.

Several other equities analysts also recently commented on the stock. Citigroup decreased their price target on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. dropped their price target on shares of Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. Keefe, Bruyette & Woods cut their price objective on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Finally, Royal Bank of Canada cut their price target on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.33.

Valley National Bancorp Stock Down 5.8 %

VLY stock opened at $7.32 on Monday. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $11.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 8.61 and a beta of 1.09. The business’s fifty day moving average price is $7.81 and its two-hundred day moving average price is $8.82.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $890.07 million for the quarter, compared to the consensus estimate of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same quarter last year, the business posted $0.30 EPS.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 6.01%. Valley National Bancorp’s dividend payout ratio is currently 51.76%.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the transaction, the executive vice president now directly owns 545,249 shares in the company, valued at $4,460,136.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.88% of the company’s stock.

Hedge Funds Weigh In On Valley National Bancorp

Several large investors have recently modified their holdings of the business. Trexquant Investment LP increased its position in Valley National Bancorp by 111.5% during the 3rd quarter. Trexquant Investment LP now owns 70,824 shares of the company’s stock valued at $606,000 after purchasing an additional 37,331 shares during the period. Louisiana State Employees Retirement System bought a new stake in Valley National Bancorp during the fourth quarter valued at $1,301,000. Wellington Management Group LLP grew its holdings in Valley National Bancorp by 107.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,443,543 shares of the company’s stock worth $38,037,000 after acquiring an additional 2,301,128 shares during the period. Cerity Partners LLC bought a new position in shares of Valley National Bancorp in the 4th quarter worth about $1,623,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Valley National Bancorp by 60.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 299,963 shares of the company’s stock valued at $3,258,000 after purchasing an additional 113,527 shares during the period. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.