Valley National

Valley National Bancorp is a bank holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments. The Consumer Lending segment consists of residential mortgage loans, automobile loans and home equity loans, as well as wealth management and insurance services. The Commercial Lending segment includes floating rate and adjustable rate commercial and industrial loans as well as fixed rate owner occupied and commercial real estate loans. The Investment Management segment refers to investments in various types of securities and interest-bearing deposits with other banks. The Corporate and Other Adjustments segment represents the income and expense items not directly attributable to a specific segment. The company was founded on November 12, 1982 and is headquartered in New York, NY.

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Earnings data Q4 2024

Valley National reports strong Q4 earnings, eyes growth amidst challenges

Valley National's Q4 2022 performance reflects growth and stability, supported by strong financial metrics and strategic initiatives.
Efficient cost management, sustained credit excellence, and a focus on diversification position Valley well for future success.
Challenges from NIM pressure and economic uncertainties require cautious navigation, but opportunities for revenue growth and efficiency improvements exist.
Overall, Valley National's prudent approach to credit, focus on growth opportunities, and commitment to efficiency bode well for its future performance.

Valley National reports resilient Q1 performance and eyes strategic growth

Valley National Bancorp's Q1 2023 performance showcased resilience amidst seasonal factors, with adjusted figures reflecting a robust financial position and strong credit culture.
The bank's focus on driving shareholder value through industry-leading service, diverse loan portfolios, and strategic growth opportunities positions it well for future growth and profitability.
While facing challenges such as increasing deposit costs and rising cap rates in real estate sectors, Valley National remains proactive in risk management and open to strategic opportunities for growth.

Valley National Bank reports robust Q2 earnings amidst growth opportunities

Valley National Bank delivered strong earnings, showcasing solid performance across key metrics. While facing challenges such as declining net interest income and rising expenses, the bank is focused on leveraging growth opportunities through selective lending and cost-saving initiatives. With a conservative balance sheet approach and a focus on sustainable growth, Valley National is well-positioned for the future.

Valley National reports solid Q3 earnings amidst loan growth challenges

Valley National's Q3 performance was strong, marked by solid earnings and operational improvements. While facing challenges in loan growth and revenue pressures, the bank is focused on controlling expenses and leveraging growth opportunities. With a strategic focus on organic growth and technology enhancements, Valley is poised for future success.

Valley National (VLY) reports robust Q4 earnings and targets sustainable growth in 2024

Valley National (VLY) delivered strong financial performance in Q4 2023, focusing on customer growth and technology enhancements. While facing challenges in deposit pricing and efficiency, the company is poised for growth through strategic imperatives and opportunities in core deposits and C&I lending. With a clear focus on profitability and return on equity, Valley National aims for sustained growth in 2024.

Valley National reports solid Q1 earnings, eyes growth opportunities

Valley National's Q1 2024 performance reflects solid earnings, efficient cost management, and confidence in credit quality and balance sheet strength.
Strategic focus on growing tangible book value, optimizing capital, and exploring growth opportunities positions the company for sustainable growth.
Challenges in loan growth, managing CRE concentration, and enhancing loan yields require strategic initiatives to drive profitability and risk management.

Valley National reports solid Q2 earnings, eyes growth opportunities

Valley National's Q2 2024 earnings call highlighted strong financial performance and strategic initiatives to enhance balance sheet metrics. The bank aims for steady growth in loan and interest income while emphasizing conservative risk management practices. Challenges lie in managing expenses and navigating economic uncertainties, but opportunities for growth and risk mitigation strategies are in focus.

Valley National reports strong Q3 earnings, plans CRE loan sale

Valley National's Q3 performance showed significant improvement driven by revenue growth and cost management strategies.
The company aims to balance loan growth opportunities with challenges such as potential credit performance normalization and CRE concentration management.
Despite facing challenges, Valley remains optimistic about fee income growth and is focused on achieving its near-term CET1 goal by the end of 2024.

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Valley National Bancorp is a bank and financial holding company, which engages in the provision of retail and commercial banking services. It operates through the following segments: Commercial Banking, Consumer Banking, and Treasury and Corporate Other. The Commercial Banking segment includes commercial and industrial loans, and commercial real estate loans. The Consumer Banking segment refers to residential mortgage loans, other consumer loans, and wealth management. The Treasury and Corporate Other segment relate to treasury managed held to maturity and available for sale debt securities portfolios. The company was founded in 1927 and is headquartered in Morristown, NJ.

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (“Valley”) (NASDAQ: VLY), the holding company for Valley National Bank, today announced the pricing of a public offering of 42,780,748 shares of its common stock, no par value (the “Common Stock”), at a public offering price of $9.35 per share, for aggregate gross proceeds of $400 million.

Valley National Bancorp Announces Pricing of Common Stock Offering

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (“Valley”) (NASDAQ: VLY), the holding company for Valley National Bank, today announced a proposed public offering of shares of its common stock, no par value (the “Common Stock”).

Valley National Bancorp Announces Proposed Common Stock Offering

Valley National Bank shares have risen 23% over the past year, with a 5% boost from solid Q3 earnings, but valuation is now less attractive. The bank's de-risking plan is ahead of schedule, with an $800 million CRE loan sale reducing exposure and mitigating downside risk. Deposit performance is resilient, with a $300 million sequential increase and lower customer deposit costs expected to benefit Q4 margins.

Valley National's Positive CRE Developments Are Priced In (Downgrade)

An increase in non-interest income supports VLY's Q3 earnings, while a marginal decline in NII and loans, and a surge in provisions hurt.

Valley National Shares Jump 5.3% as Q3 Earnings Meet Estimates

Valley National Bancorp (VLY) Q3 2024 Earnings Call Transcript

Although the revenue and EPS for Valley National (VLY) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Valley National (VLY) Reports Q3 Earnings: What Key Metrics Have to Say

Valley National (VLY) came out with quarterly earnings of $0.18 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.26 per share a year ago.

Valley National (VLY) Q3 Earnings Meet Estimates

NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the third quarter 2024 of $97.9 million, or $0.18 per diluted common share, as compared to the second quarter 2024 net income of $70.4 million, or $0.13 per diluted common share, and net income of $141.3 million, or $0.27 per diluted common share, for the third quarter 2023. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $96.8 million, or $0.18 per diluted common share, for the third quarter 2024, $71.6 million, or $0.13 per diluted common share, for the second quarter 2024, and $136.4 million, or $0.26 per diluted common share, for the third quarter 2023. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

Valley National Bancorp Announces Third Quarter 2024 Results

Evaluate the expected performance of Valley National (VLY) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Gear Up for Valley National (VLY) Q3 Earnings: Wall Street Estimates for Key Metrics

Valley National (VLY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Valley National (VLY) to Report a Decline in Earnings: What to Look Out for

MIAMI--(BUSINESS WIRE)--Valley National Bank is expanding its leadership team to strengthen its presence in the East Florida region.

Valley National Bank Elevates Leadership to Expand South Florida Market Presence

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We take a look at the action in preferreds and baby bonds through the fourth week of July and highlight some of the key themes we are watching. Preferred stocks and baby bonds saw positive price movement, with most sub-sectors finishing in the green on the week with credit spreads remaining tight. New issues often offer stronger yields than existing shares; investors should monitor new securities for better yield opportunities.

Preferreds Weekly Review: Recent Issues Often Offer Highest Yields

NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY ), the holding company for Valley National Bank, announced that it will release its third quarter 2024 earnings before the market opens on Thursday, October 24, 2024.

Valley National Bancorp to Announce Third Quarter 2024 Earnings

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Angel Oak Mortgage REIT, Valley National Bancorp, and Chimera Investment Corporation have introduced new fixed-income offerings with attractive yields and potential early redemption options. Investors can purchase newly introduced preferred stock shares at wholesale prices on the OTC exchange, potentially avoiding capital losses if prices drop. CDx3 Notification Service tracks preferred stock and ETD offerings, alerting investors when securities fall below par value, providing opportunities for discounted investments.

New Preferred Stock And Exchange Traded Debt IPOs, August 2024

NEW YORK, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, announced today its regular preferred and common dividends. The declared quarterly dividends to shareholders of record on September 13, 2024 are as follows:

Valley National Bancorp Declares Its Regular Quarterly Preferred and Common Stock Dividends

NEW YORK, July 29, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (“Valley”) (NASDAQ: VLY), the holding company for Valley National Bank, today announced the pricing of a public offering of 6,000,000 shares of its 8.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C (the “Preferred Stock”), for gross proceeds of $150 million. Each share of the Preferred Stock will be issued at a public offering price of $25 per share and has a liquidation preference of $25 per share. Dividends on the Preferred Stock will accrue and be payable quarterly in arrears, at a fixed rate per annum equal to 8.250% from the date of original issue to, but excluding September 30, 2029, and thereafter at a rate per annum equal to the five-year U.S. treasury rate (as defined in the preliminary prospectus supplement relating to the offering) as of the most recent dividend payment date (as defined in the preliminary prospectus supplement) plus 4.182%.

Valley National Bancorp Announces Pricing of Series C Preferred Stock Offering

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a preferred stock rating of BBB-, as well as affirms the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Morristown, New Jersey based Valley National Bancorp (NASDAQ: VLY) (“the company”). Additionally, KBRA affirms the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for lead subsidiary, Valley Nation.

KBRA Assigns Preferred Stock Rating and Affirms Existing Ratings to Valley National Bancorp

A jump in provisions and lower revenues hurt Valley National's (VLY) Q2 earnings, while higher loan and deposit balances and a fall in expenses offer some support.

Valley National (VLY) Stock Up 3.1% Despite Q2 Earnings Miss

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Wall Street's Most Accurate Analysts Weigh In On 3 Financials Stocks With Over 5% Dividend Yields

Valley National Bancorp (NASDAQ:VLY ) Q2 2024 Earnings Conference Call July 25, 2024 11:00 AM ET Company Participants Travis Lan - IR Ira Robbins - CEO Tom Iadanza - President Mike Hagedorn - CFO Mark Saeger - Chief Credit Officer Conference Call Participants Frank Schiraldi - Piper Sandler Steven Alexopoulos - JPMorgan Matthew Breese - Stephens Manan Gosalia - Morgan Stanley Steve McGrady - KBW Stephen Moss - Raymond Jane Jon Arfstrom - RBC Capital Markets Jared Shaw - Barclays Operator Good day, and thank you for standing by. Welcome to the Second Quarter 2024 Valley National Bancorp Earnings Conference Call.

Valley National Bancorp (VLY) Q2 2024 Earnings Call Transcript

Valley National Bancorp shares fell 5% after Q2 earnings, but the market may be overreacting to concerns about its commercial real estate portfolio. Valley's loan growth is focused on business lending to diversify away from commercial real estate, with a declining exposure to NYC. Despite concerns about credit degradation, Valley's credit performance remains fairly typical, with modest deterioration and strong deposit performance.

Valley National: After A Mixed Q2, Shares Appear Overly Punished

While the top- and bottom-line numbers for Valley National (VLY) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Valley National (VLY) Reports Q2 Earnings: What Key Metrics Have to Say

Valley National (VLY) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.28 per share a year ago.

Valley National (VLY) Q2 Earnings and Revenues Miss Estimates

NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the second quarter 2024 of $70.4 million, or $0.13 per diluted common share, as compared to the first quarter 2024 net income of $96.3 million, or $0.18 per diluted common share, and net income of $139.1 million, or $0.27 per diluted common share, for the second quarter 2023. Excluding all non-core income and charges, our adjusted net income (a non-GAAP measure) was $71.6 million, or $0.13 per diluted common share, for the second quarter 2024, $99.4 million, or $0.19 per diluted common share, for the first quarter 2024, and $147.1 million, or $0.28 per diluted common share, for the second quarter 2023. See further details below, including a reconciliation of our non-GAAP adjusted net income, in the "Consolidated Financial Highlights" tables.

Valley National Bancorp Announces Second Quarter 2024 Results

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