Wall Street analysts expect Valley National Bancorp (NASDAQ:VLY) to report revenue of $346.27 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made earnings estimates for Valley National Bancorp. The highest sales estimate is $356.32 million and the lowest is $336.50 million. Valley National Bancorp reported sales of $335.45 million in the same quarter last year, suggesting a positive year-over-year growth rate of 3.2%. The company is expected to release its next quarterly earnings report before the market opens on Thursday, January 27.
On average, analysts expect Valley National Bancorp to report annual sales of $1.36 billion for the current fiscal year, with estimates ranging from $1.34 billion to $1.37 billion. For the next fiscal year, analysts expect the company to post sales of $1.53 billion, with estimates ranging from $1.39 billion to $1.66 billion. Zacks’ sell calculations are an average average based on a survey of sell-side analysts who follow Valley National Bancorp.
Valley National Bancorp Inc (NASDAQ:VLY) last reported results on Wednesday, October 27. The company reported earnings per share of $0.30 for the quarter, meeting analyst consensus estimates of $0.30. The company posted revenue of $343.46 million in the quarter, versus a consensus estimate of $339.41 million. Valley National Bancorp had a net margin of 31.10% and a return on equity of 10.63%. In the same quarter a year earlier, the company posted EPS of $0.25.
VLY has been the subject of several recent research reports. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target for the stock in a Saturday, January 8 research note. Stephens raised his price target on Valley National Bancorp from $15.00 to $15.50 and gave the stock an “overweight” rating in a Monday, Oct. 4 research report. Two analysts rated the stock with a hold rating and three gave the company a buy rating. According to MarketBeat, Valley National Bancorp currently has a consensus rating of “Buy” and an average price target of $15.19.
NASDAQ VLY opened at $14.20 on Friday. Valley National Bancorp has a 12 month low of $10.04 and a 12 month high of $15.10. The company has a fifty-day simple moving average of $14.12 and a 200-day simple moving average of $13.52. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt ratio of 0.32. The company has a market capitalization of $5.78 billion, a P/E ratio of 12.79 and a beta of 1.18.
The company also recently declared a quarterly dividend, which was paid on Monday, January 3. Investors of record on Wednesday, December 15 received a dividend of $0.11 per share. This represents a dividend of $0.44 on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Tuesday, December 14. Valley National Bancorp’s dividend payout ratio is currently 39.64%.
Several hedge funds have recently changed their stock holdings. State Street Corp increased its stake in shares of Valley National Bancorp by 13.2% in the second quarter. State Street Corp now owns 20,784,380 shares of the company valued at $281,233,000 after acquiring an additional 2,428,734 shares during the period. Vanguard Group Inc. increased its stake in Valley National Bancorp by 3.2% during the second quarter. Vanguard Group Inc. now owns 39,687,307 shares of the company valued at $533,001,000 after purchasing an additional 1,215,120 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in Valley National Bancorp during Q3, valued at approximately $12,781,000. Goldman Sachs Group Inc. increased its stake in Valley National Bancorp by 56.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,039,365 shares of the company valued at $27,389,000 after purchasing an additional 734,439 shares in the last quarter. Finally, Morgan Stanley increased its stake in Valley National Bancorp by 46.3% during the second quarter. Morgan Stanley now owns 1,963,336 shares of the company valued at $26,367,000 after purchasing an additional 621,791 shares in the last quarter. 63.19% of the shares are held by hedge funds and other institutional investors.
Company Profile Valley National Bancorp
Valley National Bancorp is a bank holding company that provides personal and business banking services. It operates through the following segments: Consumer Credit; commercial loans; investment management; and Corporate and Other Adjustments. The consumer lending segment includes residential mortgages, auto loans and home equity loans, as well as wealth management and insurance services.
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