Wall Street brokerages expect Valley National Bancorp (NYSE:VLY) to post earnings per share of $0.23 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Valley National Bancorp’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.23. Valley National Bancorp reported earnings of $0.22 per share in the same quarter last year, which would indicate a positive year over year growth rate of 4.5%. The firm is expected to report its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Valley National Bancorp will report full year earnings of $0.94 per share for the current financial year, with EPS estimates ranging from $0.93 to $0.95. For the next financial year, analysts anticipate that the company will post earnings of $1.03 per share, with EPS estimates ranging from $1.01 to $1.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $326.32 million during the quarter, compared to analyst estimates of $253.23 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share.
VLY has been the topic of a number of analyst reports. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. TheStreet raised Valley National Bancorp from a “c+” rating to a “b-” rating in a research note on Friday, February 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.95.
In other Valley National Bancorp news, Director Gerald Korde sold 3,100 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $10.19, for a total value of $31,589.00. Following the sale, the director now directly owns 659,111 shares of the company’s stock, valued at approximately $6,716,341.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.45% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. CWM Advisors LLC acquired a new stake in Valley National Bancorp in the 1st quarter worth about $156,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Valley National Bancorp by 63.7% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,381,290 shares of the financial services provider’s stock worth $13,233,000 after buying an additional 537,690 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Valley National Bancorp by 6.9% in the 1st quarter. Macquarie Group Ltd. now owns 11,336,692 shares of the financial services provider’s stock worth $108,606,000 after buying an additional 731,451 shares during the last quarter. SEI Investments Co boosted its stake in Valley National Bancorp by 13.0% in the 1st quarter. SEI Investments Co now owns 284,203 shares of the financial services provider’s stock worth $2,723,000 after buying an additional 32,804 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its stake in Valley National Bancorp by 2.2% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 170,201 shares of the financial services provider’s stock worth $1,631,000 after buying an additional 3,715 shares during the last quarter. 55.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of VLY traded up $0.02 during trading hours on Friday, reaching $10.31. 36,455 shares of the company traded hands, compared to its average volume of 2,036,270. Valley National Bancorp has a fifty-two week low of $8.42 and a fifty-two week high of $13.37.
Valley National Bancorp Company Profile
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.
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