Valley National Bancorp (NYSE:VLY) – Equities research analysts at Wedbush dropped their Q2 2018 EPS estimates for shares of Valley National Bancorp in a report issued on Monday. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $0.18 for the quarter, down from their prior forecast of $0.19. Wedbush also issued estimates for Valley National Bancorp’s Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $0.73 EPS.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $13.00 price objective on shares of Valley National Bancorp in a report on Friday, September 29th. BidaskClub downgraded shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $13.00 price objective (up previously from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Valley National Bancorp currently has an average rating of “Hold” and a consensus price target of $12.67.

Valley National Bancorp (NYSE VLY) traded up $0.07 on Tuesday, reaching $11.92. 2,402,900 shares of the company’s stock traded hands, compared to its average volume of 1,854,814. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.98. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $12.82. The firm has a market capitalization of $3,132.79, a P/E ratio of 16.69 and a beta of 0.89.

Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The company had revenue of $193.00 million for the quarter, compared to the consensus estimate of $195.03 million. Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd will be issued a $0.11 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.44 annualized dividend and a dividend yield of 3.69%. Valley National Bancorp’s dividend payout ratio is currently 64.71%.

Several hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Valley National Bancorp in the third quarter valued at about $448,000. California Public Employees Retirement System grew its position in Valley National Bancorp by 1.3% during the third quarter. California Public Employees Retirement System now owns 628,418 shares of the financial services provider’s stock valued at $7,572,000 after buying an additional 7,879 shares during the period. Cubist Systematic Strategies LLC bought a new position in Valley National Bancorp during the third quarter valued at about $253,000. First Republic Investment Management Inc. grew its position in Valley National Bancorp by 87.3% during the third quarter. First Republic Investment Management Inc. now owns 28,213 shares of the financial services provider’s stock valued at $340,000 after buying an additional 13,149 shares during the period. Finally, Allianz Asset Management GmbH grew its position in Valley National Bancorp by 113.0% during the third quarter. Allianz Asset Management GmbH now owns 101,408 shares of the financial services provider’s stock valued at $1,222,000 after buying an additional 53,796 shares during the period. Institutional investors own 63.90% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Wedbush Weighs in on Valley National Bancorp’s Q2 2018 Earnings (VLY)” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was copied illegally and reposted in violation of US and international copyright laws. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/12/05/wedbush-weighs-in-on-valley-national-bancorps-q2-2018-earnings-vly.html.

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.

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

Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.