Analysts expect Valley National Bancorp (NYSE:VLY) to post sales of $256.70 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Valley National Bancorp’s earnings, with estimates ranging from $255.90 million to $257.20 million. Valley National Bancorp posted sales of $248.82 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The firm is expected to announce its next quarterly earnings report on Thursday, July 25th.
On average, analysts expect that Valley National Bancorp will report full year sales of $1.05 billion for the current financial year, with estimates ranging from $1.02 billion to $1.10 billion. For the next year, analysts anticipate that the company will post sales of $1.08 billion, with estimates ranging from $1.08 billion to $1.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Valley National Bancorp.
Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.22 earnings per share (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 analysts’ expectations of $253.23 million. During the same quarter last year, the firm earned $0.18 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Valley National Bancorp by 1.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 154,439 shares of the financial services provider’s stock valued at $1,371,000 after purchasing an additional 1,508 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Valley National Bancorp by 11.4% in the 4th quarter. Private Advisor Group LLC now owns 19,087 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 1,954 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Valley National Bancorp by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 132,444 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 2,034 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Valley National Bancorp by 1.7% in the 1st quarter. Mason Street Advisors LLC now owns 176,540 shares of the financial services provider’s stock valued at $1,691,000 after purchasing an additional 2,904 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Valley National Bancorp in the 1st quarter valued at approximately $29,000. Institutional investors own 55.94% of the company’s stock.
Shares of Valley National Bancorp stock opened at $10.78 on Friday. Valley National Bancorp has a 12-month low of $8.42 and a 12-month high of $13.07. The business’s 50-day moving average price is $10.25.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.11 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.08%.
About Valley National Bancorp
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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