Wall Street brokerages expect Valley National Bank (NYSE:VLY) to post $242.47 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Valley National Bank’s earnings, with estimates ranging from $241.00 million to $243.94 million. Valley National Bank posted sales of $195.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 23.8%. The company is expected to report its next earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that Valley National Bank will report full year sales of $983.73 million for the current year, with estimates ranging from $977.00 million to $989.16 million. For the next financial year, analysts expect that the firm will report sales of $1.04 billion per share, with estimates ranging from $1.03 billion to $1.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Valley National Bank.

Valley National Bank (NYSE:VLY) last posted its earnings results on Thursday, April 26th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.03). Valley National Bank had a return on equity of 8.20% and a net margin of 17.08%. The company had revenue of $239.85 million during the quarter, compared to analyst estimates of $238.74 million. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year.

Several equities research analysts recently weighed in on VLY shares. Zacks Investment Research upgraded Valley National Bank from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Saturday, April 7th. Sandler O’Neill upgraded Valley National Bank from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine upgraded Valley National Bank from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Piper Jaffray reiterated a “buy” rating and set a $14.00 price target on shares of Valley National Bank in a report on Monday, January 29th. Finally, Morgan Stanley upped their price target on Valley National Bank from $13.00 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Valley National Bank presently has an average rating of “Buy” and a consensus target price of $13.79.

VLY opened at $12.76 on Friday. Valley National Bank has a twelve month low of $10.61 and a twelve month high of $13.38. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $4,088.90, a P/E ratio of 18.49 and a beta of 0.90.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were issued a dividend of $0.11 per share. The ex-dividend date was Wednesday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.45%. Valley National Bank’s dividend payout ratio (DPR) is presently 63.77%.

In other Valley National Bank news, Director Peter J. Baum purchased 3,433 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $12.70 per share, for a total transaction of $43,599.10. Following the completion of the acquisition, the director now directly owns 41,086 shares in the company, valued at $521,792.20. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.45% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Valley National Bank by 58.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,749 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 5,429 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Valley National Bank in the fourth quarter valued at $169,000. Wealth Advisors of Tampa Bay LLC acquired a new position in shares of Valley National Bank in the fourth quarter valued at $184,000. Derby & Company Inc. acquired a new position in shares of Valley National Bank in the fourth quarter valued at $204,000. Finally, Virtu Financial LLC acquired a new position in shares of Valley National Bank in the fourth quarter valued at $206,000. Institutional investors and hedge funds own 51.38% of the company’s stock.

About Valley National Bank

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.

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