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NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY ), the holding company for Valley National Bank, announced that it will release its third quarter 2023 earnings before the market opens on Thursday, October 26, 2023.
Valley National Bancorp stock VLY, +2.83% was up 4.3% in premarket trades on Tuesday after Hovde Group upgraded the company to outperform from market perform, with a price target of $11.50 a share. While the stock has risen 10% in the last eight trading days, “we see more room to run at this price level,” said Hovde analyst Nick Cucharale.
Valley National Bancorp VLY, +0.98% stock was down 1.5% in premarket trades on Tuesday after the financial company's second-quarter profit and revenue fell short of estimates, and Hovde Group analysts downgraded the stock to market perform from outperform, while hiking its price target by $1 to $11 a share. Hovde Group analysts said challenges remain for the company even as it targets $40 million in in cost savings initiatives.
Ira Robbins, Valley Bank CEO, joins 'Power Lunch' to discuss Valley Bank's exposure to commercial real estate, the Basel III proposal, and where Robbins has seen the biggest loan growth.
Higher interest expenses hurt Valley National's (VLY) Q2 earnings.
Valley National (VLY) came out with quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.32 per share a year ago.
Valley National Bancorp gets a strong buy rating today. Positives: dividend yield near 5% and above average, valuation below average, capital/liquidity strength, net income growth, share price vs 200-day SMA is in buying range. Headwinds: none.
NEW YORK, July 12, 2023 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, announced that it will release its second quarter 2023 earnings before the market opens on Thursday, July 27, 2023.
Amid the current turmoil in the banking sector, Investors may accumulate solid dividend-yielding stocks like Valley National (VLY) in their portfolios.
Opportunistic acquisitions, decent loan demand and higher rates support Valley National's (VLY) financials amid elevated expenses and loan concentration.