For its second fiscal quarter (ending June 30), Valley National Bancorp (NASDAQ: VLY) has reported a -52% decline in E.P.S. from $0.27 a year ago to $0.13 in the current quarter. This result fell short of the consensus estimate of $0.19 by $-0.06. E.P.S. were $0.71 for the latest four quarters through June 30 versus $1.24 for the same period a year ago — a decline of -43%.
Recent Price Action
On 7/25/24, Valley National Bancorp (NASDAQ: VLY) stock enjoyed a large increase of 3.1%, closing at $8.07. Moreover, this advance was accompanied by exceptionally high trading volume at 297% of normal. Relative to the market the stock has been extremely weak over the last nine months but is unchanged during the last week.
Current PriceTarget Research Rating
VLY’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Valley National Bancorp has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Valley National Bancorp has a very high Appreciation Score of 92 but a very low Power Rating of 14, and the Neutral Value Trend Rating results.
Rating Review
In light of this discouraging new earnings information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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