Equities research analysts predict that Valley National Bancorp (NYSE:VLY) will post earnings of $0.23 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Valley National Bancorp’s earnings, with estimates ranging from $0.22 to $0.24. Valley National Bancorp posted earnings of $0.17 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 35.3%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Valley National Bancorp will report full year earnings of $0.87 per share for the current year, with EPS estimates ranging from $0.82 to $0.89. For the next financial year, analysts forecast that the company will report earnings of $1.03 per share, with EPS estimates ranging from $0.99 to $1.10. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Valley National Bancorp.

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

VLY has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Sandler O’Neill reaffirmed a “buy” rating and set a $14.00 target price on shares of Valley National Bancorp in a research note on Friday, July 27th. ValuEngine raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Morgan Stanley cut their target price on shares of Valley National Bancorp from $14.25 to $13.75 and set an “equal weight” rating on the stock in a research note on Tuesday, July 31st. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $13.00 target price on shares of Valley National Bancorp in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Valley National Bancorp has an average rating of “Hold” and an average price target of $13.97.

VLY traded down $0.20 during trading hours on Monday, hitting $10.38. 2,129,431 shares of the company’s stock were exchanged, compared to its average volume of 2,317,608. Valley National Bancorp has a 12-month low of $10.31 and a 12-month high of $13.38. The company has a market cap of $3.73 billion, a P/E ratio of 15.04 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.70.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Friday, September 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, September 13th. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

In other news, EVP Ronald H. Janis acquired 10,000 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were bought at an average cost of $11.64 per share, with a total value of $116,400.00. Following the transaction, the executive vice president now owns 37,878 shares in the company, valued at approximately $440,899.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.45% of the company’s stock.

Large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund purchased a new stake in shares of Valley National Bancorp in the 2nd quarter valued at approximately $1,256,000. Bank of New York Mellon Corp increased its position in shares of Valley National Bancorp by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,004,155 shares of the financial services provider’s stock valued at $73,010,000 after purchasing an additional 191,335 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Valley National Bancorp by 15.4% in the 2nd quarter. Federated Investors Inc. PA now owns 407,032 shares of the financial services provider’s stock valued at $4,949,000 after purchasing an additional 54,338 shares during the last quarter. Amalgamated Bank increased its position in shares of Valley National Bancorp by 26.8% in the 2nd quarter. Amalgamated Bank now owns 46,624 shares of the financial services provider’s stock valued at $567,000 after purchasing an additional 9,847 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its position in shares of Valley National Bancorp by 3.6% in the 2nd quarter. Salem Investment Counselors Inc. now owns 519,292 shares of the financial services provider’s stock valued at $6,315,000 after purchasing an additional 18,187 shares during the last quarter. 55.94% of the stock is currently owned by institutional investors.

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.

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

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