Valley National Bancorp (NYSE:VLY) Posts Earnings Results, Misses Estimates By $0.01 EPS

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

Shares of Valley National Bancorp (NYSE VLY) traded up $0.03 during mid-day trading on Friday, hitting $11.03. 1,957,300 shares of the stock traded hands, compared to its average volume of 1,872,092. Valley National Bancorp has a fifty-two week low of $10.61 and a fifty-two week high of $12.82. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $2,908.07, a P/E ratio of 15.49 and a beta of 0.89.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $13.00 price objective on shares of Valley National Bancorp in a research report on Friday, September 29th. BidaskClub cut shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $13.00 price objective (up from $12.00) on shares of Valley National Bancorp in a research report on Wednesday, August 9th. Finally, Hovde Group upgraded shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price objective on the stock in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Valley National Bancorp currently has a consensus rating of “Hold” and an average price target of $12.67.

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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.

Earnings History for Valley National Bancorp (NYSE:VLY)

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