Valley National Bancorp (VLY) Releases Quarterly Earnings, Misses Expectations By $0.01 EPS
Valley National Bancorp (NYSE:VLY) released its earnings data on Thursday. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.15 by $0.01, AR Network reports. The company had revenue of $134.06 million for the quarter, compared to the consensus estimate of $139.30 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was down 17.4% on a year-over-year basis.
Valley National Bancorp (NYSE:VLY) traded down 3.95% on Thursday, hitting $9.9699. The stock had a trading volume of 622,547 shares. Valley National Bancorp has a 52 week low of $8.65 and a 52 week high of $10.74. The stock’s 50-day moving average is $10.35 and its 200-day moving average is $9.79. The company has a market cap of $1.988 billion and a P/E ratio of 14.56.
On the ratings front, analysts at Keefe, Bruyette & Woods raised their price target on shares of Valley National Bancorp from $8.00 to $8.50 in a research note to investors on Friday, July 26th.
Valley National Bancorp (NYSE:VLY) is a bank holding company.
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