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.
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