Wall Street analysts expect Valley National (VLY) to post quarterly earnings of $0.29 per share in its upcoming report, which indicates a year-over-year increase of 123.1%. Revenues are expected to be $524.69 million, up 10.3% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Valley National metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Efficiency Ratio' should come in at 53.6%. Compared to the present estimate, the company reported 57.2% in the same quarter last year.
Analysts' assessment points toward 'Average Balance - Total interest earning assets' reaching $59.05 billion. The estimate is in contrast to the year-ago figure of $58.21 billion.
It is projected by analysts that the 'Total non-interest Income' will reach $64.19 million. The estimate is in contrast to the year-ago figure of $51.20 million.
The average prediction of analysts places 'Insurance commissions' at $3.27 million. The estimate compares to the year-ago value of $3.71 million.
The collective assessment of analysts points to an estimated 'Bank owned life insurance' of $4.60 million. Compared to the current estimate, the company reported $3.78 million in the same quarter of the previous year.
The consensus among analysts is that 'Net interest income - FTE' will reach $461.60 million. The estimate is in contrast to the year-ago figure of $424.28 million.
Analysts forecast 'Wealth management and trust fees' to reach $16.63 million. The estimate is in contrast to the year-ago figure of $16.43 million.
Based on the collective assessment of analysts, 'Service charges on deposit accounts' should arrive at $16.23 million. Compared to the present estimate, the company reported $12.99 million in the same quarter last year.
The consensus estimate for 'Net Interest Income' stands at $461.30 million. Compared to the present estimate, the company reported $422.98 million in the same quarter last year.
Analysts expect 'Fees from loan servicing' to come in at $3.48 million. Compared to the present estimate, the company reported $3.07 million in the same quarter last year.
View all Key Company Metrics for Valley National here>>>
Shares of Valley National have experienced a change of +4.4% in the past month compared to the +0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), VLY is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Valley National Bancorp (VLY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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