UPDATE 1-Valley National, Eagle Bancorp latest to disclose earnings hit due to CRE footprint [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
April 25 (Reuters) - Valley National Bancorp and Eagle Bancorp were the latest regional banks to outline a hit to their earnings from exposure to commercial real estate (CRE) loans, underscoring the uncertainty that has clouded the industry. High interest rates and borrowing costs have heightened worries of debt defaults in the CRE market, which is already in doldrums due to empty office buildings in the post-pandemic era, prompting banks to build rainy day funds for potential defaults. Investor focus this year is on the CRE exposure in regional lenders' loan books after New York Community Bancorp reported a surprise quarterly loss in January due to writedowns on loans tied to the sector. Eagle's stock hit its lowest in six months and was last trading down 12% on Thursday, a day after it reported a near six-fold jump in provisions for credit losses that led to a surprise loss for the first quarter. The bigger provisions were due to weakness in just one office property, howeve
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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