Q2 2024 EPS Estimates for Valley National Bancorp (NASDAQ:VLY) Reduced by Analyst

Valley National Bancorp (NASDAQ:VLY) – Stock analysts at Wedbush cut their Q2 2024 earnings per share estimates for Valley National Bancorp in a report released on Thursday, April 25th. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings of $0.21 per share for the quarter, down from their prior estimate of $0.22. Wedbush currently has a “Neutral” rating and a $8.00 target price on the stock. The consensus estimate for Valley National Bancorp’s current full-year earnings is $0.90 per share. Wedbush also issued estimates for Valley National Bancorp’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.29 EPS and FY2025 earnings at $1.15 EPS.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $890.07 million during the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same quarter last year, the firm posted $0.30 EPS.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada lowered their target price on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. TheStreet lowered shares of Valley National Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Citigroup dropped their price objective on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Finally, Barclays began coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They set an “underweight” rating and a $8.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.33.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $7.01 on Monday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 8.25 and a beta of 1.09. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51. Valley National Bancorp has a 52 week low of $6.39 and a 52 week high of $11.22. The company has a fifty day simple moving average of $7.76 and a two-hundred day simple moving average of $8.80.

Institutional Trading of Valley National Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of VLY. GAMMA Investing LLC acquired a new position in Valley National Bancorp in the fourth quarter valued at $35,000. Wolverine Asset Management LLC purchased a new stake in Valley National Bancorp during the 4th quarter valued at approximately $40,000. Simplicity Wealth LLC acquired a new stake in Valley National Bancorp during the 1st quarter worth approximately $92,000. Stratos Wealth Partners LTD. acquired a new stake in Valley National Bancorp during the 3rd quarter worth approximately $93,000. Finally, Jump Financial LLC purchased a new position in shares of Valley National Bancorp in the 3rd quarter valued at approximately $93,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 49,715 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 6.28%. Valley National Bancorp’s dividend payout ratio is presently 51.76%.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.