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Valley National (VLY)
:VLY
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.19Last Year’s EPS
0.19Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 23, 2025
|% Change Since: -2.65%
|Next Earnings Date:Apr 24, 2025
Earnings Call Sentiment|Positive
The call highlighted significant growth in net income, deposit services, and FX fees, alongside a reduction in CRE concentration. However, challenges included elevated loan loss provisions and nonaccrual loans. Overall, the highlights outweigh the lowlights, indicating positive financial performance and strategic progress.Company Guidance
During Valley National Bancorp's Q4 2024 earnings call, detailed guidance for 2025 was provided, highlighting several key metrics and strategic priorities. The company reported a Q4 net income of $116 million with a diluted earnings per share of $0.20, an increase from the previous quarter's $98 million and $0.18 per share. Looking ahead to 2025, Valley anticipates continued net interest income growth, ranging between 9% to 12%, driven by asset growth and improved funding costs. The bank aims to reduce its CRE concentration ratio while focusing on C&I, owner-occupied, and consumer loan originations. Deposit growth is expected to leverage specialty verticals and enhance the commercial customer base, with a focus on expanding branch deposits. Furthermore, Valley projects a significant decline in net charge-offs and provision expenses, with an ultimate goal of achieving an ROA above 1% by year-end. Additional growth in non-interest income is anticipated through expanded treasury solutions and FX capabilities, with tangible book value continuing to rise. The results also highlighted a $1.7 billion increase in transaction deposits over the past year and a 27% rise in deposit service revenue, underscoring Valley's strengthened balance sheet and strategic execution.Net Income Growth
Valley reported net income of approximately $116 million and diluted earnings per share of $0.20, compared to $98 million and $0.18 a quarter ago.
Deposit Service Revenue Increase
Deposit service revenue in the second half of 2024 was $11 million higher than the same period a year ago, representing a 27% increase.
FX Fees Growth
The annualized run rate for FX fees was $4 million higher in the second half of 2024 than the second half of 2023, representing over 50% growth.
CRE Concentration Reduction
The CRE concentration ratio was reduced to 362% from 421% a quarter ago and 474% at the end of 2023.
Net Interest Income Growth
Net interest income increased 3% from the third quarter and is now 6% higher than a year ago.
Strong Deposit Growth
Direct customer deposits grew $1.7 billion during the quarter, enabling a $2 billion reduction in higher-cost indirect deposits.
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VLY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VLY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $9.80 | $9.78 | -0.20% |
| Oct 24, 2024 | $9.02 | $9.50 | +5.32% |
| Jul 25, 2024 | $7.64 | $7.88 | +3.14% |
| Apr 25, 2024 | $7.53 | $7.46 | -0.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Valley National (VLY) report earnings?
Valley National (VLY) is schdueled to report earning on Apr 24, 2025, TBA Not Confirmed.
What is Valley National (VLY) earnings time?
Valley National (VLY) earnings time is at Apr 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VLY EPS forecast?
VLY EPS forecast for the fiscal quarter 2025 (Q1) is 0.19.
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