Valley National Bancorp reports results for the quarter ended in September 30 - Earnings Summary

Valley National Bancorp

24/10/2024 17:22

* Valley National Bancorp  VLY.OQ  reported quarterly
adjusted
earnings of 18 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of 26 cents.  The mean expectation of
eleven analysts for the quarter was for earnings of 18 cents per
share. Wall Street expected results to range from 17 cents to 19
cents per share.
    * Revenue rose 0% to $471.17 million from a year ago;
analysts
expected $466.77 million. 
    * Valley National Bancorp's reported EPS for the quarter was
18
cents​.
    * The company reported quarterly net income of $91.74
million.
    * Valley National Bancorp shares had risen by 0.7% this
quarter and lost 16.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.1%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 7
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Valley National
Bancorp is 9.75 
This summary was machine generated from LSEG data October 24 at
04:22 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.18           0.18           Met
 Jun. 30 2024      0.19           0.13           Missed
 Mar. 31 2024      0.20           0.19           Missed
 Dec. 31 2023      0.25           0.22           Missed