Valley National Bancorp (VLY)
After hours:
| Previous Close | 7.84 |
| Open | 7.85 |
| Bid | 7.75 x 2000 |
| Ask | 8.92 x 100 |
| Day's Range | 7.24 - 7.86 |
| 52 Week Range | 6.39 - 11.22 |
| Volume | |
| Avg. Volume | 7,154,435 |
| Market Cap | 3.954B |
| Beta (5Y Monthly) | 1.10 |
| PE Ratio (TTM) | 8.18 |
| EPS (TTM) | 0.95 |
| Earnings Date | Jul 25, 2024 - Jul 29, 2024 |
| Forward Dividend & Yield | 0.44 (5.61%) |
| Ex-Dividend Date | Mar 13, 2024 |
| 1y Target Est | 10.09 |
- Reuters
UPDATE 2-Valley National, Eagle Bancorp latest to disclose earnings hit due to CRE footprint
Valley National Bancorp and Eagle Bancorp were the latest regional banks to outline a hit to their earnings from exposure to commercial real estate (CRE) loans, underscoring the uncertainty that has clouded the industry. Investor focus this year is on the CRE exposure in regional lenders' loan books after New York Community Bancorp reported a surprise quarterly loss in January due to writedowns on loans tied to the sector. Eagle's stock hit its lowest in six months before closing down 10% on Thursday, a day after it reported a near six-fold jump in provisions for credit losses that led to a surprise loss for the first quarter.
- Reuters
Valley National, Eagle Bancorp latest to disclose earnings hit due to CRE footprint
(Reuters) -Valley National Bancorp and Eagle Bancorp were the latest regional banks to outline a hit to their earnings from exposure to commercial real estate (CRE) loans, underscoring the uncertainty that has clouded the industry. Investor focus this year is on the CRE exposure in regional lenders' loan books after New York Community Bancorp reported a surprise quarterly loss in January due to writedowns on loans tied to the sector. Eagle's stock hit its lowest in six months before closing down 10% on Thursday, a day after it reported a near six-fold jump in provisions for credit losses that led to a surprise loss for the first quarter.
- Reuters
Valley National Bancorp's Q1 profit plunges on bigger loan-loss provisions
Valley National Bancorp reported a slump in its first-quarter profit on Thursday, dragged down by a fivefold increase in rainy-day funds on account of its exposure to commercial real estate. High interest rates and borrowing costs have heightened worries of debt defaults in the commercial real estate (CRE) market, which is already in doldrums due to empty office buildings in the post-pandemic era. Valley National's provisions for credit losses surged to $45.3 million in the first quarter, compared with $9.5 million a year earlier.
