VLY
Valley National Bancorp (VLY) reported second-quarter profit of $170.
Article Summary
HOLD- Valley National Bancorp (VLY) reported second-quarter profit of $170.9 million, with earnings adjusted for amortization costs of 30 cents per share, falling short of Wall Street expectations of 31 cents.
- The holding company for Valley National Bank posted revenue of $903.1 million in the period, beating expectations of $562 million, while revenue net of interest expense was $562.5 million, beating forecasts of $552 million.
- The bank said it had earnings of 29 cents per quarter, while the average estimate of four analysts surveyed by Zacks Investment Research was for 31 cents per earnings.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | -0.2% | 25% | 0.0 ptsDeclining (-0.2%) - NOT a growth stock |
| EPS Growth Next 5Y ? | 21.3% | 25% | 70.0 ptsGood (21.3%) - Solid outlook |
| Target Price Upside ? | 15.9% | 20% | 60.0 ptsModerate Upside (15.9%) - Target: $16.47 vs Current: $14.21 |
| Gross Margin % ? | — | 15% | 40.0 ptsNo Gross Margin Data |
| Drawdown from 52-Wk High ? | -6.5% | 15% | 20.0 ptsBarely a Dip (-6.5%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About VLY
- 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.
- The company operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.
- It offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, construction, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; automobile financing; and secured and unsecured other consumer loans.
- The company also invests in various securities and interest-bearing deposits with other banks; and provides international banking services.
- In addition, it offers investment services for individuals and small to medium sized businesses; and trusts investment strategies designed for various investment profiles and objectives.
- Further, the company provides trust services, such as living and testamentary trusts, investment management, custodial and escrow services, and estate administration to individuals; tax credit advisory services; brokerage services; property and casualty, life, health, and title insurance agency services; and health care equipment lending and other commercial equipment leasing services, as well as private banking and management services.
- Additionally, it offers niche financial services, including loan and deposit products for homeowners associations, cannabis-related business banking, and venture banking; online, mobile, and telephone banking services; credit cards; and automated teller machine services.
- Valley National Bancorp was founded in 1927 and is headquartered in Morristown, New Jersey.