Valley National Bancorp (VLY) Set to Announce Earnings on Thursday
Valley National Bancorp (NYSE:VLY) will be posting its quarterly earnings results before the market opens on Thursday, January 25th. Analysts expect Valley National Bancorp to post earnings of $0.18 per share for the quarter.
Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings data 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 net margin of 19.91% and a return on equity of 8.27%. The firm had revenue of $193.00 million during the quarter, compared to analyst estimates of $195.03 million. During the same period in the prior year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts expect Valley National Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Valley National Bancorp (NYSE VLY) opened at $12.20 on Thursday. 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 1-year low of $10.61 and a 1-year high of $12.82. The company has a market capitalization of $3,220.00, a price-to-earnings ratio of 17.94 and a beta of 0.89.
A number of research analysts have commented on the company. Piper Jaffray Companies raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price objective on the stock in a report on Friday, January 5th. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report 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 report on Friday, September 29th. Finally, Royal Bank of Canada assumed coverage on Valley National Bancorp in a report on Thursday, December 21st. They issued an “outperform” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.21.
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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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