Wall Street brokerages expect Valley National Bancorp (NYSE:VLY) to post sales of $195.68 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Valley National Bancorp’s earnings, with the highest sales estimate coming in at $196.70 million and the lowest estimate coming in at $194.66 million. Valley National Bancorp reported sales of $179.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.3%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, October 25th.

According to Zacks, analysts expect that Valley National Bancorp will report full-year sales of $195.68 million for the current year, with estimates ranging from $775.00 million to $782.59 million. For the next year, analysts anticipate that the firm will post sales of $902.40 million per share, with estimates ranging from $812.58 million to $959.93 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Valley National Bancorp.

Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $195.79 million during the quarter, compared to analysts’ expectations of $190.83 million. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. During the same quarter in the prior year, the business earned $0.15 earnings per share.

A number of brokerages have commented on VLY. Wedbush reaffirmed a “neutral” rating and set a $12.00 price target on shares of Valley National Bancorp in a research report on Tuesday, June 27th. BidaskClub raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Hovde Group raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target for the company in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target for the company in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Valley National Bancorp currently has an average rating of “Hold” and an average target price of $12.67.

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In other news, Director Mary Guilfoile sold 39,495 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $11.91, for a total value of $470,385.45. Following the completion of the transaction, the director now owns 258,719 shares of the company’s stock, valued at approximately $3,081,343.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.07% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Valley National Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after buying an additional 817 shares during the period. Advisor Group Inc. lifted its holdings in shares of Valley National Bancorp by 26.2% in the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after buying an additional 2,031 shares during the period. MCF Advisors LLC acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at about $118,000. HRT Financial LLC acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at about $120,000. Finally, Ffcm LLC lifted its holdings in shares of Valley National Bancorp by 222.4% in the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock valued at $124,000 after buying an additional 7,079 shares during the period. 61.89% of the stock is owned by institutional investors and hedge funds.

Shares of Valley National Bancorp (NYSE VLY) opened at 10.73 on Friday. Valley National Bancorp has a 52-week low of $9.23 and a 52-week high of $12.82. The stock has a market cap of $2.83 billion, a PE ratio of 15.33 and a beta of 0.91. The company’s 50-day moving average price is $11.45 and its 200-day moving average price is $11.76.

The business also recently disclosed a dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.11 dividend. The ex-dividend date is Thursday, September 14th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 62.86%.

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

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