Valley National Bancorp Q1 revenue, adjusted EPS beat estimates on healthy commercial loan, deposit growth

Valley National Bancorp

23/04/2026 12:18

Overview

U.S. regional bank's Q1 revenue beat analyst expectations, adjusted EPS also beat

Adjusted net income for Q1 exceeded consensus

Company repurchased 4 mln shares during the quarter

Outlook

Company did not provide specific guidance for current or future periods in its press release

Result Drivers

NET INTEREST INCOME - Growth driven by lower average deposit costs, disciplined deposit pricing, and runoff of higher-cost indirect deposits

LOAN AND DEPOSIT GROWTH - Loan growth led by commercial real estate and C&I loans; deposit growth supported by new commercial and online customer deposits

NON-INTEREST INCOME DECLINE - Lower capital markets activity and fintech investment valuations weighed on non-interest income

Company press release: ID:nGNX4JlSk7

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$540.36 mln
$531.06 mln (9 Analysts)
Q1 Adjusted EPS
Beat
$0.29
$0.27 (13 Analysts)
Q1 EPS
$0.28
Q1 Adjusted Net Income
Beat
$168.90 mln
$153.24 mln (10 Analysts)
Q1 Net Income
$163.91 mln
Q1 Provision For Credit losses
$21.26 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Valley National Bancorp is $15.00, about 13.2% above its April 22 closing price of $13.25

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)