Brokerages predict that Valley National Bancorp (NYSE:VLY) will post $0.23 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Valley National Bancorp’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.24. Valley National Bancorp reported earnings per share of $0.22 during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Valley National Bancorp will report full-year earnings of $0.94 per share for the current financial year, with EPS estimates ranging from $0.93 to $0.95. For the next year, analysts expect that the business will report earnings of $1.03 per share, with EPS estimates ranging from $1.01 to $1.05. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Valley National Bancorp.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $326.32 million for the quarter, compared to analyst estimates of $253.23 million. During the same quarter in the prior year, the firm earned $0.18 EPS.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. TheStreet upgraded shares of Valley National Bancorp from a “c+” rating to a “b-” rating in a research report on Friday, February 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Valley National Bancorp has a consensus rating of “Hold” and an average price target of $12.95.

In other news, Director Gerald Korde sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $10.19, for a total value of $31,589.00. Following the transaction, the director now owns 659,111 shares in the company, valued at $6,716,341.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.45% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY lifted its stake in Valley National Bancorp by 76.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 192,313 shares of the financial services provider’s stock worth $1,708,000 after acquiring an additional 83,028 shares during the period. Oakbrook Investments LLC lifted its stake in Valley National Bancorp by 76.6% in the fourth quarter. Oakbrook Investments LLC now owns 22,600 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 9,800 shares during the period. Teachers Advisors LLC lifted its stake in Valley National Bancorp by 2.5% in the third quarter. Teachers Advisors LLC now owns 627,644 shares of the financial services provider’s stock worth $7,061,000 after acquiring an additional 15,050 shares during the period. BlackRock Inc. lifted its stake in Valley National Bancorp by 3.4% in the fourth quarter. BlackRock Inc. now owns 44,400,658 shares of the financial services provider’s stock worth $394,278,000 after acquiring an additional 1,465,653 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Valley National Bancorp in the first quarter worth $29,000. Hedge funds and other institutional investors own 55.94% of the company’s stock.

Shares of NYSE VLY opened at $10.28 on Friday. Valley National Bancorp has a one year low of $8.42 and a one year high of $13.37.

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

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