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Ira Robbins, Valley National Bank chairman and CEO, joins 'Power Lunch' to discuss the chief executive's sentiment after hearing news about New York Community Bank, how Robbins would characterize their interactions with regulators, and more.
Valley National (VLY) announces a new share repurchase program. Given the decent liquidity and strong balance sheet position, this looks sustainable in the long run.
Valley National (VLY) benefits from improved revenues, loan balances and strategic acquisitions. Yet, mounting expenses and pressure on NIM are near-term concerns.
Ira Robbins, CEO at Valley National Bank, says, “we have not had to restructure one loan of that whole $2.8 billion” of loans that have repriced or matured in the last year as he discusses the bank's commercial real estate loan portfolio. For more on this story, please see: https://www.bloomberg.com/news/articles/2024-02-15/valley-national-s-real-estate-loans-in-strong-shape-ceo-says --------
Lower revenues, an increase in non-interest expenses and higher provisions hurt Valley National's (VLY) Q4 earnings.
After 11 interest rate hikes that started with a 0.25% increase in March 2022 and ended with a 0.25% increase in July 2023, the Federal Reserve has left rates unchanged for three consecutive meetings. That's good news for bank stocks.
While the top- and bottom-line numbers for Valley National (VLY) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Valley National (VLY) came out with quarterly earnings of $0.22 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.35 per share a year ago.
Evaluate the expected performance of Valley National (VLY) for the quarter ended December 2023, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
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