- Valley National’s net interest income for the fourth quarter reached $423.0 million, marking a 6.5% increase compared to the previous year and surpassing the expected $411.2 million.
- The adjusted earnings per share (EPS) was 13 cents, a decrease from the 22 cents recorded in the same quarter last year.
- Non-interest expenses totaled $278.6 million, showing an 18% reduction from the prior year, though slightly above the estimated $273.5 million.
- Net charge-offs for the quarter were $98.3 million, significantly higher than the $17.5 million from the previous year, and also above the forecasted $51.2 million.
- The common equity Tier 1 ratio improved to 10.8%, up from 9.29% in the previous year.
- Analysts’ recommendations for Valley National include 4 buys, 7 holds, and no sell ratings.
A look at Valley National Bancorp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.0 |
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, is poised for a promising long-term outlook. With a top score of 5 in Value and a solid 4 in Dividend, the company demonstrates strong fundamentals and a commitment to shareholder returns. Additionally, its impressive Momentum score of 5 suggests positive market sentiment and potentially strong performance ahead.
While Valley National Bancorp scores slightly lower in Growth and Resilience, with scores of 3 for both factors, its diverse range of subsidiaries, including mortgage servicing and investment companies, provides a stable foundation for future expansion and resilience. Overall, Valley National Bancorp‘s Smartkarma Smart Scores paint a bullish picture for investors looking at the company’s long-term prospects.
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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