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

• Valley National Bancorp reported quarterly adjusted earnings of 36 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 28 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 33 cents per share. Wall Street expected results to range from 32 cents to 34 cents per share.

• Revenue rose 14.3% to $584.15 million from a year ago; analysts expected $577.19 million.

• Valley National Bancorp's reported EPS for the quarter was 36 cents​.

• The company reported quarterly net income of $198.97 million.

• Valley National Bancorp shares had risen by 3.2% this quarter and gained 11.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.7% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Valley National Bancorp is $16.75, about 22.3% above its last closing price of $13.02

This summary was machine generated from LSEG data October 22 at 03:07 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)