Zacks: Analysts Anticipate Valley National Bancorp (VLY) to Announce $0.17 EPS
Brokerages forecast that Valley National Bancorp (NYSE:VLY) will post earnings per share (EPS) of $0.17 for the current quarter, Zacks reports. Two analysts have made estimates for Valley National Bancorp’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.18. Valley National Bancorp reported earnings per share of $0.19 during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.5%. The company is scheduled to announce its next earnings report on Wednesday, January 24th.
On average, analysts expect that Valley National Bancorp will report full year earnings of $0.69 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.73. For the next fiscal year, analysts forecast that the company will post earnings of $0.81 per share, with EPS estimates ranging from $0.75 to $0.86. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The business had revenue of $193.00 million during the quarter, compared to analyst estimates of $195.03 million. Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share.
A number of brokerages have recently issued reports on VLY. Zacks Investment Research cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Valley National Bancorp in a research note on Friday, September 29th. BidaskClub cut shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Piper Jaffray Companies reiterated a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. Finally, Hovde Group upgraded shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target for the company in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.67.
A number of large investors have recently bought and sold shares of VLY. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Valley National Bancorp by 9.8% during 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 last quarter. Advisor Group Inc. raised its holdings in Valley National Bancorp by 26.2% during 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 last quarter. MCF Advisors LLC bought a new stake in Valley National Bancorp during the 2nd quarter valued at $118,000. HRT Financial LLC bought a new stake in Valley National Bancorp during the 2nd quarter valued at $120,000. Finally, Ffcm LLC raised its holdings in Valley National Bancorp by 222.4% during 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 last quarter. Institutional investors own 62.33% of the company’s stock.
Valley National Bancorp (NYSE VLY) traded up $0.02 during trading on Friday, reaching $11.65. The company had a trading volume of 2,570,000 shares, compared to its average volume of 1,660,000. Valley National Bancorp has a 52-week low of $9.61 and a 52-week high of $12.82. The firm has a market capitalization of $3,080.00, a price-to-earnings ratio of 16.37 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.98 and a quick ratio of 0.97.
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Valley National Bancorp Company Profile
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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