Zacks: Analysts Expect Valley National Bancorp (VLY) to Announce $0.18 EPS
Wall Street analysts expect Valley National Bancorp (NYSE:VLY) to post earnings of $0.18 per share for the current quarter, according to Zacks. Two analysts have made estimates for Valley National Bancorp’s earnings, with estimates ranging from $0.18 to $0.19. Valley National Bancorp posted earnings per share of $0.16 in the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The firm is scheduled to report its next quarterly earnings results before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Valley National Bancorp will report full year earnings of $0.71 per share for the current year, with EPS estimates ranging from $0.69 to $0.72. For the next financial year, analysts expect that the firm will report earnings of $0.83 per share, with EPS estimates ranging from $0.80 to $0.86. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. The firm had revenue of $195.79 million for the quarter, compared to analysts’ expectations of $190.83 million. During the same quarter last year, the firm earned $0.15 EPS.
Several research analysts have recently issued reports on VLY shares. ValuEngine upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $11.50 target price (up previously from $11.00) on shares of Valley National Bancorp in a research note on Friday, July 7th. BidaskClub upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Valley National Bancorp presently has a consensus rating of “Hold” and an average price target of $12.67.
Valley National Bancorp (VLY) traded up 0.19% during trading on Friday, hitting $10.73. 2,585,890 shares of the company’s stock traded hands. Valley National Bancorp has a 12 month low of $9.23 and a 12 month high of $12.82. The company’s 50 day moving average is $11.48 and its 200-day moving average is $11.76. The stock has a market cap of $2.83 billion, a P/E ratio of 15.33 and a beta of 0.91.
The business also recently disclosed a dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 14th. Valley National Bancorp’s dividend payout ratio (DPR) is 62.86%.
In related news, Director Mary Guilfoile sold 39,495 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the transaction, the director now owns 258,719 shares in the company, valued at $3,081,343.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.07% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC lifted its position in Valley National Bancorp by 0.6% during the second quarter. Private Advisor Group LLC now owns 15,921 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 90 shares during the period. Amalgamated Bank lifted its position in Valley National Bancorp by 0.3% during the first quarter. Amalgamated Bank now owns 34,972 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 103 shares during the period. Pinnacle Associates Ltd. lifted its position in Valley National Bancorp by 0.3% during the second quarter. Pinnacle Associates Ltd. now owns 64,914 shares of the financial services provider’s stock valued at $767,000 after purchasing an additional 225 shares during the period. Condor Capital Management lifted its position in Valley National Bancorp by 0.8% during the first quarter. Condor Capital Management now owns 36,509 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 291 shares during the period. Finally, LS Investment Advisors LLC lifted its position in Valley National Bancorp by 2.1% during the first quarter. LS Investment Advisors LLC now owns 17,867 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 363 shares during the period. Institutional investors own 61.89% of the company’s stock.
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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