Wall Street analysts predict that Valley National Bancorp (NYSE:VLY) will post sales of $194.49 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued 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 posted sales of $197.06 million in the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, January 24th.

According to Zacks, analysts expect that Valley National Bancorp will report full-year sales of $194.49 million for the current financial year, with estimates ranging from $766.00 million to $775.77 million. For the next financial year, analysts expect that the company will report sales of $942.94 million per share, with estimates ranging from $923.90 million to $967.05 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Valley National Bancorp.

Valley National Bancorp (NYSE:VLY) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The company had revenue of $193.00 million during the quarter, compared to the consensus estimate of $195.03 million. Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS.

A number of brokerages recently commented on VLY. BidaskClub lowered Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. 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 reiterated a “buy” rating and set a $13.00 price target on shares of Valley National Bancorp in a report on Friday, September 29th. Hovde Group upgraded Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target on the stock in a report on Monday, July 31st. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Valley National Bancorp has an average rating of “Hold” and an average target price of $12.67.

Shares of Valley National Bancorp (VLY) opened at $11.30 on Friday. The company has a market capitalization of $3,010.00, a price-to-earnings ratio of 16.11 and a beta of 0.89. Valley National Bancorp has a fifty-two week low of $10.61 and a fifty-two week high of $12.82. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97.

Several institutional investors and hedge funds have recently modified their holdings of VLY. AQR Capital Management LLC raised its stake in shares of Valley National Bancorp by 12.9% in the first quarter. AQR Capital Management LLC now owns 198,155 shares of the financial services provider’s stock valued at $2,338,000 after buying an additional 22,637 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Valley National Bancorp by 19.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 42,269 shares of the financial services provider’s stock valued at $499,000 after buying an additional 6,890 shares during the period. Bank of Montreal Can raised its stake in shares of Valley National Bancorp by 619.5% in the second quarter. Bank of Montreal Can now owns 158,339 shares of the financial services provider’s stock valued at $1,871,000 after buying an additional 136,332 shares during the period. Creative Planning raised its stake in shares of Valley National Bancorp by 8.1% in the second quarter. Creative Planning now owns 13,841 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,041 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Valley National Bancorp by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 94,312 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 4,110 shares during the period. Hedge funds and other institutional investors own 63.97% of the company’s stock.

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

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