Q3 2024 EPS Estimates for Valley National Bancorp (NASDAQ:VLY) Decreased by Analyst

Valley National Bancorp (NASDAQ:VLY) – Investment analysts at Wedbush cut their Q3 2024 earnings per share (EPS) estimates for shares of Valley National Bancorp in a report issued on Thursday, July 25th. Wedbush analyst D. Chiaverini now expects that the company will post earnings of $0.19 per share for the quarter, down from their prior estimate of $0.22. Wedbush currently has a “Neutral” rating and a $8.00 target price on the stock. The consensus estimate for Valley National Bancorp’s current full-year earnings is $0.77 per share. Wedbush also issued estimates for Valley National Bancorp’s Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $0.70 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.28 EPS and FY2025 earnings at $1.05 EPS.

A number of other research firms have also issued reports on VLY. Royal Bank of Canada boosted their price objective on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com upgraded Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Barclays reduced their price objective on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Keefe, Bruyette & Woods boosted their price objective on 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. Finally, JPMorgan Chase & Co. reduced their price objective on Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.61.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $8.20 on Monday. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 9.65 and a beta of 1.08. The business has a 50 day simple moving average of $7.16 and a 200-day simple moving average of $7.85.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. The firm had revenue of $884.68 million during the quarter, compared to the consensus estimate of $458.67 million. During the same quarter last year, the firm posted $0.28 earnings per share.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Thursday, June 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 5.37%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 51.76%.

Insiders Place Their Bets

In other Valley National Bancorp news, Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the transaction, the director now owns 224,679 shares in the company, valued at approximately $1,734,521.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Joseph Chillura sold 10,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $6.57, for a total value of $65,700.00. Following the completion of the sale, the executive vice president now owns 545,249 shares in the company, valued at $3,582,285.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew B. Abramson sold 16,451 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total value of $127,001.72. Following the completion of the sale, the director now owns 224,679 shares of the company’s stock, valued at approximately $1,734,521.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,451 shares of company stock worth $378,452. 1.88% of the stock is owned by company insiders.

Institutional Trading of Valley National Bancorp

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at $35,000. Innealta Capital LLC acquired a new stake in shares of Valley National Bancorp during the second quarter worth $38,000. Wolverine Asset Management LLC acquired a new stake in shares of Valley National Bancorp during the fourth quarter worth $40,000. EntryPoint Capital LLC acquired a new stake in shares of Valley National Bancorp during the first quarter worth $43,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Valley National Bancorp during the first quarter worth $92,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.