Valley National (VLY) Aided by Loan & Rates Amid Strain on NIM [Yahoo! Finance]
Valley National Bancorp (VLY)
Last valley national bancorp earnings: 4/30 08:00 am
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valleynationalbank.com
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Source: Yahoo! Finance
However, pressure on NIM because of high rates and a rise in non-interest expenses are near-term headwinds. Valley National's net revenues witnessed a compound annual growth rate (CAGR) of 16.1% over the last six years (2017-2023), driven by a continued rise in loan balances. Over the same time frame, net loans recorded a CAGR of 18.2%. With strategic acquisitions, high interest rates, efforts to boost fee income and decent loan demand, growth in revenues is expected to continue. Management expects mid-single-digit growth in loans in 2024, with the primary focus on expanding commercial and industrial and non-investor commercial real estate loans. As of Dec 31, 2023, Valley National had a total debt of $3.25 billion (the majority being long-term in nature), while its cash and due from banks, and interest-bearing deposits with banks were $891.2 million. The company has investment grade credit ratings of BBB on senior unsecured debt from S&P. Thus, given the earnings strength, VLY is
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News
- Valley National Bancorp (NASDAQ:VLY) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Valley National Bank: Q1 Results Should Calm Fears [Seeking Alpha]Seeking Alpha
- Valley National (VLY) Q1 Earnings Miss on High Provisions [Yahoo! Finance]Yahoo! Finance
- Valley National Bancorp (NASDAQ: VLY) had its price target lowered by analysts at Wedbush from $9.00 to $8.00. They now have a "neutral" rating on the stock.MarketBeat
- Valley National Bancorp First Quarter 2024 Earnings: EPS Misses Expectations [Yahoo! Finance]Yahoo! Finance
VLY
Earnings
- 4/25/24 - Miss
VLY
Sec Filings
- 4/25/24 - Form 8-K
- 4/5/24 - Form S-3ASR
- 4/5/24 - Form ARS
- VLY's page on the SEC website