How fewer expected rate cuts will affect bank's outlooks - Morgan Stanley [Seeking Alpha]
Valley National Bancorp (VLY)
Last valley national bancorp earnings: 4/30 08:00 am
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Source: Seeking Alpha
of 2024, certain lenders are expected to implement material revisions to their outlook for net interest income ("NII") to reflect the new macroeconomic environment. A months-long standoff between market and the Federal Reserve has drawn to a close, as much of the economic data so far this year have reinforced the monetary authority's case for caution. In January, fed funds futures traders had priced in six to seven quarter-point rate cuts by the end of 2024. Now, with inflation proving stickier than expected, traders see three reductions starting in June or July, aligning with the central bank's median projection issued earlier this month. “In general, fewer rate cuts are a tailwind to NII outlooks for most Large Cap Banks, and a headwind for several Midcap Banks,” Morgan Stanley analyst Manan Gosalia wrote in a recent note. That's because, he added, big banks have higher asset yields and slight incremental deposit pricing pressure, while midcap banks have faced higher funding cos
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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