Valley National Bancorp Expected to Earn FY2020 Earnings of $1.10 Per Share (VLY)

Valley National Bancorp (NYSE:VLY) – Equities researchers at Piper Jaffray Companies cut their FY2020 earnings per share estimates for shares of Valley National Bancorp in a research note issued to investors on Monday, October 29th. Piper Jaffray Companies analyst M. Breese now expects that the financial services provider will post earnings of $1.10 per share for the year, down from their previous estimate of $1.18.

Other equities analysts have also issued research reports about the stock. Sandler O’Neill reaffirmed a “buy” rating and set a $14.00 price target on shares of Valley National Bancorp in a research report on Friday, July 27th. Royal Bank of Canada reaffirmed a “buy” rating and set a $13.00 price target on shares of Valley National Bancorp in a research report on Friday, July 27th. Morgan Stanley dropped their price target on shares of Valley National Bancorp from $14.25 to $13.75 and set an “equal weight” rating for the company in a research report on Tuesday, July 31st. Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, ValuEngine raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Valley National Bancorp presently has a consensus rating of “Hold” and an average price target of $13.97.

Shares of VLY stock opened at $10.02 on Wednesday. Valley National Bancorp has a one year low of $9.32 and a one year high of $13.38. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.70. The company has a market cap of $3.73 billion, a P/E ratio of 14.52 and a beta of 0.88.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Valley National Bancorp had a return on equity of 8.56% and a net margin of 16.35%. The company had revenue of $245.84 million for the quarter, compared to analyst estimates of $252.55 million.

Several institutional investors have recently added to or reduced their stakes in VLY. Oakbrook Investments LLC acquired a new stake in shares of Valley National Bancorp in the second quarter worth $123,000. IMS Capital Management acquired a new stake in shares of Valley National Bancorp in the second quarter worth $136,000. Oliver Luxxe Assets LLC acquired a new stake in shares of Valley National Bancorp in the third quarter worth $138,000. Natixis acquired a new stake in shares of Valley National Bancorp in the second quarter worth $140,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Valley National Bancorp in the second quarter worth $155,000. 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.

Further Reading: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

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

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