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.

A number of other analysts also recently commented on VLY. Piper Jaffray Companies reiterated a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. BidaskClub downgraded shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $13.00 target price on shares of Valley National Bancorp in a report on Friday, September 29th. Finally, Zacks Investment Research upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.67.

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%.

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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.

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

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