Research Analysts Issue Forecasts for VLY FY2024 Earnings

Valley National Bancorp (NASDAQ:VLY - Free Report) - Equities researchers at Wedbush reduced their FY2024 earnings per share (EPS) estimates for shares of Valley National Bancorp in a research note issued on Friday, October 25th. Wedbush analyst D. Chiaverini now forecasts that the company will post earnings per share of $0.66 for the year, down from their previous estimate of $0.69. Wedbush has a "Neutral" rating and a $10.00 price target on the stock. The consensus estimate for Valley National Bancorp's current full-year earnings is $0.67 per share. Wedbush also issued estimates for Valley National Bancorp's Q4 2024 earnings at $0.17 EPS, Q3 2025 earnings at $0.25 EPS and FY2026 earnings at $1.10 EPS.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $921.22 million for the quarter, compared to analysts' expectations of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same quarter last year, the business posted $0.26 earnings per share.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a "market perform" rating in a research report on Friday, July 26th. Morgan Stanley raised their price objective on Valley National Bancorp from $9.50 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. StockNews.com downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, August 14th. Piper Sandler raised their price target on Valley National Bancorp from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Barclays lifted their price objective on shares of Valley National Bancorp from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $9.63.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY traded up $0.28 during mid-day trading on Monday, reaching $9.55. The stock had a trading volume of 4,383,697 shares, compared to its average volume of 5,847,210. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The company has a market cap of $4.86 billion, a P/E ratio of 15.40 and a beta of 1.08. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The business's 50 day moving average price is $8.80 and its 200 day moving average price is $7.91.

Institutional Investors Weigh In On Valley National Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama increased its holdings in shares of Valley National Bancorp by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 535,546 shares of the company's stock valued at $4,263,000 after acquiring an additional 1,435 shares during the period. Diversified Trust Co raised its holdings in Valley National Bancorp by 11.1% in the second quarter. Diversified Trust Co now owns 14,317 shares of the company's stock worth $100,000 after purchasing an additional 1,435 shares in the last quarter. Blue Trust Inc. raised its holdings in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock worth $44,000 after purchasing an additional 1,564 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company's stock valued at $62,000 after buying an additional 2,151 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Valley National Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company's stock valued at $276,000 after buying an additional 2,154 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.44 annualized dividend and a yield of 4.61%. Valley National Bancorp's dividend payout ratio (DPR) is 70.97%.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.