Valley National Bancorp (VLY) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Valley National Bancorp (VLY) reported quarterly earnings results on Wednesday, Jul-27-2016. The company reported $0.15 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.16. The company posted revenue of $175.72 million in the period, compared to analysts expectations of $177.37 million. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Valley National Bancorp closed down -0.03 points or -0.33% at $9.03 with 15,40,612 shares getting traded on Thursday. Post opening the session at $9.06, the shares hit an intraday low of $8.97 and an intraday high of $9.07 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jun 15, 2016, Mary Guilfoile (director) sold 10,000 shares at $9.11 per share price. According to the SEC, on May 26, 2016, Peter P Crocitto (Senior EVP & COO, Director) sold 3,175 shares at $9.44 per share price. On Jun 25, 2015, Ira Robbins (EVP – Treasurer) purchased 800 shares at $25.05 per share price, according to the Form-4 filing with the securities and exchange commission.

Valley National Bancorp (Valley) is a bank holding company. The Company operates through its subsidiary Valley National Bank (Bank). The Bank operates in four segments: commercial lending consumer lending investment management and corporate and other adjustments. Its Wealth Management Division is consisted of trust asset management and insurance services. It provides a range of commercial retail insurance and wealth management financial services products. It provides various banking services including automated teller machines telephone and Internet banking remote deposit capture and deposit facilities. It also provides international banking services to customers including letters of credit documentary letters of credit and related products. It operates approximately 211 branch locations serving over 24 counties throughout northern and central New Jersey the New York City boroughs of Manhattan Brooklyn Queens and Long Island and Florida.

Valley National Bancorp

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