- Valley National’s adjusted earnings per share (EPS) for the second quarter is 23 cents, surpassing last year’s 13 cents and the estimated 22 cents.
- Net interest income reached $432.4 million, representing a 7.6% increase year-over-year, slightly below the estimated $433.4 million.
- Non-interest expenses rose by 2.4% year-over-year to $284.1 million, just below the anticipated $285.2 million.
- Net charge-offs increased by 2.7% year-over-year to $37.8 million, exceeding the expected $29.7 million.
- The Common Equity Tier 1 (CET1) ratio improved to 10.9%, up from 9.55% last year.
- Analyst recommendations include 5 buy ratings, 6 hold ratings, and 0 sell ratings for Valley National.
A look at Valley National Bancorp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Valley National Bancorp, the holding company for Valley National Bank and The Merchants Bank of New York, has received positive Smart Scores across various factors. With a top score of 5 in Value, the company is deemed to be attractively priced relative to its fundamentals. Additionally, its above-average score of 4 in Dividend indicates a strong dividend payment history, appealing to income-seeking investors. While Valley National Bancorp scored a 3 in Growth and Resilience, showing moderate performance in these areas, its Momentum score of 4 suggests a favorable trend in stock price movement.
Valley National Bancorp‘s business model is centered around providing personal and commercial banking services in northern New Jersey and Manhattan, New York. The company’s subsidiaries also offer mortgage servicing and investment solutions. With strong Value and Dividend scores, along with decent Momentum, Valley National Bancorp appears well-positioned for long-term growth and income generation, making it an intriguing prospect for investors seeking a balanced blend of value and stability in the financial sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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