Wall Street brokerages expect Valley National Bancorp (NYSE:VLY) to post $194.49 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Valley National Bancorp’s earnings, with the highest sales estimate coming in at $195.08 million and the lowest estimate coming in at $193.90 million. Valley National Bancorp reported sales of $197.06 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, January 25th.
According to Zacks, analysts expect that Valley National Bancorp will report full-year sales of $194.49 million for the current year, with estimates ranging from $766.00 million to $775.77 million. For the next fiscal year, analysts anticipate that the business will report sales of $955.30 million per share, with estimates ranging from $937.86 million to $967.05 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $195.03 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Valley National Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 817 shares during the period. Advisor Group Inc. raised its holdings in Valley National Bancorp by 26.2% in the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 2,031 shares during the period. HRT Financial LLC bought a new position in Valley National Bancorp in the 2nd quarter worth $120,000. Ffcm LLC raised its holdings in Valley National Bancorp by 222.4% in the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 7,079 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Valley National Bancorp in the 3rd quarter worth $126,000. 63.90% of the stock is currently owned by institutional investors.
Shares of Valley National Bancorp (NYSE:VLY) traded up $0.19 on Wednesday, reaching $11.50. The company’s stock had a trading volume of 6,790,000 shares, compared to its average volume of 1,800,000. The company has a current ratio of 0.98, a quick ratio of 0.97 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 stock has a market cap of $3,090.00, a P/E ratio of 15.93 and a beta of 0.89.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 22nd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.44 dividend on an annualized basis and a yield of 3.83%. Valley National Bancorp’s dividend payout ratio is currently 64.71%.
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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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