Research Analysts Issue Forecasts for Valley National Bancorp’s FY2017 Earnings (VLY)
Valley National Bancorp (NYSE:VLY) – Wedbush lifted their FY2017 EPS estimates for Valley National Bancorp in a research report issued to clients and investors on Monday. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.68 per share for the year, up from their previous estimate of $0.65. Wedbush also issued estimates for Valley National Bancorp’s Q1 2018 earnings at $0.17 EPS and FY2019 earnings at $0.80 EPS.
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 analysts’ consensus estimates of $0.18 by ($0.01). Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The business had revenue of $193.00 million during the quarter, compared to the consensus estimate of $195.03 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year.
Shares of Valley National Bancorp (NYSE:VLY) opened at $11.67 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.97. Valley National Bancorp has a fifty-two week low of $10.61 and a fifty-two week high of $12.82. The company has a market cap of $3,132.79, a P/E ratio of 16.69 and a beta of 0.89.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Valley National Bancorp by 2.1% in the second quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock worth $258,410,000 after acquiring an additional 448,524 shares in the last quarter. Crawford Investment Counsel Inc. grew its position in Valley National Bancorp by 5.1% during the second quarter. Crawford Investment Counsel Inc. now owns 196,413 shares of the financial services provider’s stock valued at $2,320,000 after purchasing an additional 9,470 shares in the last quarter. Rhumbline Advisers grew its position in Valley National Bancorp by 2.2% during the second quarter. Rhumbline Advisers now owns 548,774 shares of the financial services provider’s stock valued at $6,481,000 after purchasing an additional 11,838 shares in the last quarter. Capital Advisors Inc. OK grew its position in Valley National Bancorp by 8.5% during the second quarter. Capital Advisors Inc. OK now owns 1,138,475 shares of the financial services provider’s stock valued at $13,445,000 after purchasing an additional 88,936 shares in the last quarter. Finally, Chicago Equity Partners LLC grew its position in Valley National Bancorp by 22.0% during the third quarter. Chicago Equity Partners LLC now owns 637,215 shares of the financial services provider’s stock valued at $7,678,000 after purchasing an additional 114,780 shares in the last quarter. 63.90% of the stock is currently owned by institutional investors and hedge funds.
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 given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, December 21st. Valley National Bancorp’s dividend payout ratio (DPR) is currently 64.71%.
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.
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.