$0.23 EPS Expected for Valley National Bancorp (NYSE:VLY) This Quarter

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Analysts expect Valley National Bancorp (NYSE:VLY) to report $0.23 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Valley National Bancorp’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.22. Valley National Bancorp posted earnings per share of $0.21 during the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The firm is expected to announce its next quarterly earnings results on Thursday, October 24th.

On average, analysts expect that Valley National Bancorp will report full year earnings of $0.93 per share for the current financial year, with EPS estimates ranging from $0.89 to $1.03. For the next financial year, analysts expect that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.97 to $1.04. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Valley National Bancorp.

Valley National Bancorp (NYSE:VLY) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $247.84 million for the quarter, compared to the consensus estimate of $256.70 million. During the same quarter in the previous year, the firm earned $0.18 EPS.

Separately, Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Valley National Bancorp by 2.8% during the first quarter. BlackRock Inc. now owns 45,624,931 shares of the financial services provider’s stock valued at $437,087,000 after acquiring an additional 1,224,273 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Valley National Bancorp by 11.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,333,186 shares of the financial services provider’s stock valued at $127,279,000 after acquiring an additional 1,515,954 shares during the period. Nuance Investments LLC boosted its holdings in shares of Valley National Bancorp by 31.7% during the second quarter. Nuance Investments LLC now owns 7,366,774 shares of the financial services provider’s stock valued at $79,487,000 after acquiring an additional 1,772,513 shares during the period. Northern Trust Corp boosted its holdings in shares of Valley National Bancorp by 7.7% during the second quarter. Northern Trust Corp now owns 6,605,462 shares of the financial services provider’s stock valued at $71,207,000 after acquiring an additional 472,920 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Valley National Bancorp by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 3,738,551 shares of the financial services provider’s stock valued at $33,198,000 after acquiring an additional 236,001 shares during the period. 55.94% of the stock is owned by institutional investors.

Shares of VLY traded up $0.28 during midday trading on Friday, hitting $10.32. 1,066,100 shares of the stock traded hands, compared to its average volume of 1,937,185. Valley National Bancorp has a 1-year low of $8.42 and a 1-year high of $12.25. The business’s 50 day moving average price is $10.73 and its two-hundred day moving average price is $10.37.

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

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