Valley National Bancorp (NYSE:VLY) – Analysts at Wedbush cut their Q2 2018 EPS estimates for Valley National Bancorp in a note issued to investors on Monday. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.18 per share for the quarter, down from their prior estimate of $0.19. Wedbush also issued estimates for Valley National Bancorp’s Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $0.73 EPS.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $13.00 price objective on shares of Valley National Bancorp in a research note on Friday, September 29th. BidaskClub lowered shares of Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.67.

Valley National Bancorp (NYSE:VLY) traded down $0.25 during midday trading on Tuesday, hitting $11.67. 1,861,900 shares of the stock traded hands, compared to its average volume of 1,854,844. 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 twelve month low of $10.61 and a twelve month high of $12.82. The stock has a market capitalization of $3,151.29, a price-to-earnings ratio of 16.79 and a beta of 0.89.

Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $193.00 million for the quarter, compared to analyst estimates of $195.03 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Valley National Bancorp’s revenue was up 6.5% on a year-over-year basis.

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Valley National Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock worth $108,000 after buying an additional 817 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Valley National Bancorp by 26.2% during the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after buying an additional 2,031 shares during the last quarter. HRT Financial LLC purchased a new stake in shares of Valley National Bancorp during the 2nd quarter worth approximately $120,000. Ffcm LLC lifted its position in shares of Valley National Bancorp by 222.4% during the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock worth $124,000 after buying an additional 7,079 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Valley National Bancorp during the 3rd quarter worth approximately $126,000. Institutional investors own 63.90% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 22nd will be paid 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 3.77%. 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.

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

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