Factors Likely to Have Influenced Earnings Results Valley National Bancorp (NASDAQ:VLY)

Earnings results for Valley National Bancorp (NASDAQ:VLY)

Valley National Bancorp is expected* to report earnings on 04/29/2021 before market open. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.29. The reported EPS for the same quarter last year was $0.21.

Valley National Bancorp last released its earnings results on January 27th, 2021. The reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm earned $335.45 million during the quarter, compared to analyst estimates of $329.65 million. Its revenue was down 12.2% on a year-over-year basis. Valley National Bancorp has generated $0.92 earnings per share over the last year and currently has a price-to-earnings ratio of 17.7. Valley National Bancorp has confirmed that its next quarterly earnings report will be published on Thursday, April 29th, 2021.

Analyst Opinion on Valley National Bancorp (NASDAQ:VLY)

7 Wall Street analysts have issued ratings and price targets for Valley National Bancorp in the last 12 months. Their average twelve-month price target is $10.88, predicting that the stock has a possible downside of 22.27%. The high price target for VLY is $14.75 and the low price target for VLY is $8.00. There are currently 1 sell rating, 3 hold ratings and 3 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Valley National Bancorp has received a consensus rating of Hold. The company’s average rating score is 2.29, and is based on 3 buy ratings, 3 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $10.88, Valley National Bancorp has a forecasted downside of 22.3% from its current price of $13.99. Valley National Bancorp has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Valley National Bancorp (NASDAQ:VLY)

Valley National Bancorp pays a meaningful dividend of 3.11%, higher than the bottom 25% of all stocks that pay dividends. Valley National Bancorp has only been increasing its dividend for 1 years. The dividend payout ratio of Valley National Bancorp is 47.83%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Valley National Bancorp will have a dividend payout ratio of 42.31% next year. This indicates that Valley National Bancorp will be able to sustain or increase its dividend.

Insiders buying/selling: Valley National Bancorp (NASDAQ:VLY)

In the past three months, Valley National Bancorp insiders have not sold or bought any company stock. Only 2.24% of the stock of Valley National Bancorp is held by insiders. 58.21% of the stock of Valley National Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Valley National Bancorp (NASDAQ:VLY

Earnings for Valley National Bancorp are expected to grow by 10.64% in the coming year, from $0.94 to $1.04 per share. The P/E ratio of Valley National Bancorp is 17.71, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 23.89. The P/E ratio of Valley National Bancorp is 17.71, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 23.12. Valley National Bancorp has a P/B Ratio of 1.11. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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