Zacks: Analysts Anticipate Valley National Bancorp (VLY) to Announce $0.23 EPS
Brokerages expect that Valley National Bancorp (NYSE:VLY) will post earnings of $0.23 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Valley National Bancorp’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.22. Valley National Bancorp reported earnings of $0.18 per share during the same quarter last year, which indicates a positive year over year growth rate of 27.8%. The company is scheduled to issue its next quarterly earnings report on Thursday, April 25th.
According to Zacks, analysts expect that Valley National Bancorp will report full-year earnings of $0.97 per share for the current financial year, with EPS estimates ranging from $0.95 to $0.98. For the next year, analysts expect that the firm will report earnings of $1.06 per share, with EPS estimates ranging from $1.04 to $1.10. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last released its earnings results on Thursday, January 31st. The financial services provider reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.02). The firm had revenue of $256.75 million during the quarter, compared to the consensus estimate of $253.53 million.
Shares of Valley National Bancorp stock traded up $0.04 on Wednesday, hitting $9.67. 40,451 shares of the company’s stock traded hands, compared to its average volume of 2,283,600. Valley National Bancorp has a 52-week low of $8.42 and a 52-week high of $13.37.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.11 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.55%.
In related news, Director Gerald Korde sold 3,100 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $10.19, for a total value of $31,589.00. Following the completion of the transaction, the director now owns 659,111 shares in the company, valued at approximately $6,716,341.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.45% of the company’s stock.
Several large investors have recently added to or reduced their stakes in VLY. JOYN Advisors Inc. raised its holdings in Valley National Bancorp by 1,410.8% during the fourth quarter. JOYN Advisors Inc. now owns 3,928 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 3,668 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new stake in Valley National Bancorp in the fourth quarter worth approximately $44,000. Bruderman Asset Management LLC bought a new position in Valley National Bancorp in the fourth quarter worth approximately $52,000. NumerixS Investment Technologies Inc raised its position in Valley National Bancorp by 742.9% in the fourth quarter. NumerixS Investment Technologies Inc now owns 5,900 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 5,200 shares during the period. Finally, Toronto Dominion Bank bought a new position in Valley National Bancorp in the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 55.94% of the company’s stock.
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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