Wall Street analysts expect Valley National Bancorp (NYSE:VLY) to report earnings per share (EPS) of $0.24 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Valley National Bancorp’s earnings, with estimates ranging from $0.23 to $0.24. Valley National Bancorp posted earnings per share of $0.17 in the same quarter last year, which would indicate a positive year over year growth rate of 41.2%. The company is scheduled to report its next earnings results on Wednesday, October 24th.

On average, analysts expect that Valley National Bancorp will report full-year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.78 to $0.89. For the next financial year, analysts forecast that the firm will report earnings of $1.03 per share, with EPS estimates ranging from $0.99 to $1.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Valley National Bancorp.

Valley National Bancorp (NYSE:VLY) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. Valley National Bancorp had a net margin of 16.35% and a return on equity of 8.56%. The business had revenue of $248.82 million for the quarter, compared to analysts’ expectations of $245.72 million. During the same period last year, the company earned $0.18 earnings per share.

Several research firms recently issued reports on VLY. Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Royal Bank of Canada restated a “buy” rating and issued a $13.00 price target on shares of Valley National Bancorp in a report on Friday, July 27th. Sandler O’Neill restated a “buy” rating and issued a $14.00 price target on shares of Valley National Bancorp in a report on Friday, July 27th. Finally, Morgan Stanley cut their price target on shares of Valley National Bancorp from $14.25 to $13.75 and set an “equal weight” rating on the stock in a report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Valley National Bancorp has an average rating of “Buy” and an average target price of $13.97.

VLY opened at $11.69 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 0.96. Valley National Bancorp has a 1 year low of $10.82 and a 1 year high of $13.38. The company has a market capitalization of $4.02 billion, a P/E ratio of 16.99 and a beta of 0.86.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Friday, September 14th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.44 annualized dividend and a yield of 3.76%. Valley National Bancorp’s payout ratio is 63.77%.

In other Valley National Bancorp news, EVP Ronald H. Janis purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were purchased at an average price of $11.64 per share, for a total transaction of $116,400.00. Following the completion of the acquisition, the executive vice president now owns 37,878 shares of the company’s stock, valued at approximately $440,899.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.45% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mcrae Capital Management Inc. raised its holdings in Valley National Bancorp by 29.6% in the second quarter. Mcrae Capital Management Inc. now owns 19,281 shares of the financial services provider’s stock valued at $234,000 after buying an additional 4,400 shares during the period. Condor Capital Management raised its stake in shares of Valley National Bancorp by 14.5% during the second quarter. Condor Capital Management now owns 36,105 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 4,572 shares during the period. Arizona State Retirement System raised its stake in shares of Valley National Bancorp by 2.8% during the second quarter. Arizona State Retirement System now owns 183,990 shares of the financial services provider’s stock valued at $2,237,000 after purchasing an additional 4,926 shares during the period. Boulegeris Investments Inc. raised its stake in shares of Valley National Bancorp by 17.9% during the second quarter. Boulegeris Investments Inc. now owns 39,800 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 6,050 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Valley National Bancorp by 0.9% during the first quarter. California Public Employees Retirement System now owns 661,091 shares of the financial services provider’s stock valued at $8,237,000 after purchasing an additional 6,155 shares during the period. Hedge funds and other institutional investors own 56.30% of the company’s stock.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.

Further Reading: Fiduciary

Get a free copy of the Zacks research report on Valley National Bancorp (VLY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.