Valley National Bancorp (VLY) Expected to Earn FY2020 Earnings of $1.05 Per Share

Valley National Bancorp (NYSE:VLY) – Stock analysts at Wedbush lowered their FY2020 earnings per share estimates for shares of Valley National Bancorp in a research note issued to investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $1.05 per share for the year, down from their prior forecast of $1.09.

Valley National Bancorp (NYSE:VLY) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $326.32 million during the quarter, compared to analysts’ expectations of $253.23 million. During the same period last year, the firm posted $0.18 EPS.

A number of other equities analysts have also recently commented on VLY. Zacks Investment Research raised Valley National Bancorp from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Saturday, January 5th. TheStreet raised Valley National Bancorp from a “c+” rating to a “b-” rating in a report on Friday, February 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Valley National Bancorp has an average rating of “Hold” and a consensus price target of $12.95.

NYSE:VLY opened at $10.38 on Monday. Valley National Bancorp has a fifty-two week low of $8.42 and a fifty-two week high of $13.37.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.11 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.24%.

In other news, Director Gerald Korde sold 3,100 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $10.19, for a total transaction of $31,589.00. Following the completion of the transaction, the director now owns 659,111 shares of the company’s stock, valued at approximately $6,716,341.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.45% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Valley National Bancorp by 3.4% during the 4th quarter. BlackRock Inc. now owns 44,400,658 shares of the financial services provider’s stock worth $394,278,000 after buying an additional 1,465,653 shares in the last quarter. Vanguard Group Inc. increased its holdings in Valley National Bancorp by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 29,544,729 shares of the financial services provider’s stock worth $332,378,000 after purchasing an additional 1,432,502 shares in the last quarter. Vanguard Group Inc increased its holdings in Valley National Bancorp by 5.1% in the 3rd quarter. Vanguard Group Inc now owns 29,544,729 shares of the financial services provider’s stock worth $332,378,000 after purchasing an additional 1,432,502 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Valley National Bancorp by 11.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,333,186 shares of the financial services provider’s stock worth $127,279,000 after purchasing an additional 1,515,954 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Valley National Bancorp by 9.0% in the 4th quarter. Macquarie Group Ltd. now owns 10,605,241 shares of the financial services provider’s stock worth $94,175,000 after purchasing an additional 873,561 shares in the last quarter. 55.94% of the stock is owned by institutional investors.

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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