Analysts expect Valley National Bancorp (NYSE:VLY) to announce $195.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Valley National Bancorp’s earnings. The highest sales estimate is $196.70 million and the lowest is $194.66 million. Valley National Bancorp posted sales of $179.00 million during the same quarter last year, which suggests a positive year over year growth rate of 9.3%. The company is scheduled to issue its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Valley National Bancorp will report full-year sales of $195.68 million for the current year, with estimates ranging from $775.00 million to $782.59 million. For the next year, analysts expect that the business will post sales of $902.40 million per share, with estimates ranging from $812.58 million to $959.93 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $195.79 million during the quarter, compared to the consensus estimate of $190.83 million. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. During the same period last year, the firm earned $0.15 earnings per share.
A number of equities research analysts have commented on VLY shares. ValuEngine raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Morgan Stanley reissued an “equal weight” rating and issued a $11.50 price objective (up from $11.00) on shares of Valley National Bancorp in a research report on Friday, July 7th. Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Wedbush reissued a “neutral” rating and issued a $12.00 price objective on shares of Valley National Bancorp in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.08.
Shares of Valley National Bancorp (NYSE:VLY) traded down 0.50% during midday trading on Friday, reaching $11.85. 1,653,605 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $11.81 and its 200 day moving average price is $11.87. Valley National Bancorp has a 1-year low of $9.09 and a 1-year high of $12.82. The stock has a market capitalization of $3.13 billion, a P/E ratio of 16.93 and a beta of 0.90.
In other news, Director Mary Guilfoile sold 5,140 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $11.92, for a total value of $61,268.80. Following the completion of the transaction, the director now owns 258,719 shares in the company, valued at approximately $3,083,930.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.07% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of VLY. MCF Advisors LLC bought a new position in shares of Valley National Bancorp during the second quarter valued at about $118,000. Capital Fund Management S.A. bought a new position in shares of Valley National Bancorp during the first quarter valued at about $138,000. Two Sigma Securities LLC bought a new position in shares of Valley National Bancorp during the first quarter valued at about $158,000. Creative Planning boosted its position in shares of Valley National Bancorp by 8.1% in the second quarter. Creative Planning now owns 13,841 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,041 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Valley National Bancorp during the second quarter valued at about $166,000. Institutional investors and hedge funds own 61.63% of the company’s stock.
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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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