Equities research analysts predict that Valley National Bancorp (NYSE:VLY) will announce sales of $194.49 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Valley National Bancorp’s earnings. The lowest sales estimate is $193.90 million and the highest is $195.08 million. Valley National Bancorp reported sales of $197.06 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.3%. The firm is expected to report its next earnings results before the market opens on Thursday, January 25th.

On average, analysts expect that Valley National Bancorp will report full year sales of $194.49 million for the current fiscal year, with estimates ranging from $766.00 million to $776.23 million. For the next year, analysts anticipate that the company will report sales of $955.64 million per share, with estimates ranging from $937.65 million to $968.28 million. Zacks Investment Research’s sales 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 announced its quarterly 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). Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business had revenue of $193.00 million during the quarter, compared to analyst estimates of $195.03 million. During the same period last year, the company earned $0.16 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis.

Several brokerages have recently commented on VLY. Zacks Investment Research raised Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Saturday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $13.00 price target on shares of Valley National Bancorp in a research note on Friday, September 29th. Royal Bank of Canada began coverage on Valley National Bancorp in a research note on Thursday, December 21st. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, Piper Jaffray Companies raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price target on the stock in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.21.

A number of institutional investors and hedge funds have recently bought and sold shares of VLY. Principal Financial Group Inc. lifted its stake in Valley National Bancorp by 185.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock worth $38,928,000 after acquiring an additional 2,099,452 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in Valley National Bancorp during the 3rd quarter worth about $9,222,000. Northern Trust Corp lifted its stake in Valley National Bancorp by 15.0% during the 2nd quarter. Northern Trust Corp now owns 5,870,281 shares of the financial services provider’s stock worth $69,327,000 after acquiring an additional 764,098 shares in the last quarter. FMR LLC lifted its stake in Valley National Bancorp by 40.6% during the 2nd quarter. FMR LLC now owns 2,122,100 shares of the financial services provider’s stock worth $25,062,000 after acquiring an additional 612,334 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Valley National Bancorp by 57.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,552,764 shares of the financial services provider’s stock worth $18,711,000 after acquiring an additional 566,827 shares in the last quarter. 63.83% of the stock is currently owned by hedge funds and other institutional investors.

Valley National Bancorp (NYSE:VLY) opened at $12.19 on Tuesday. Valley National Bancorp has a 12 month low of $10.61 and a 12 month high of $12.82. The company has a market capitalization of $3,220.00, a price-to-earnings ratio of 17.93 and a beta of 0.89. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.97.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 22nd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, December 21st. Valley National Bancorp’s payout ratio is 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.

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