Reports Q1 revenue $478.399M, consensus $483.3M. Ira Robbins, CEO, commented, “The first quarter was highlighted by the continued improvement in our funding base. Core deposit growth has enabled us to further reduce our reliance on indirect deposits which benefited our revenue and net interest margin. We anticipate that additional core deposit growth will create a sustainable tailwind despite the volatility in the current operating environment.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VLY:
- Is VLY a Buy, Before Earnings?
- Valley National price target lowered to $10 from $11 at Barclays
- Valley National price target lowered to $10 from $12 at Morgan Stanley
- Valley National upgraded to Overweight from Neutral at Piper Sandler
- Valley National price target lowered to $12 from $13 at Morgan Stanley