Valley National (VLY) reported $475.48 million in revenue for the quarter ended December 2024, representing a year-over-year increase of 5.7%. EPS of $0.13 for the same period compares to $0.22 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $469.49 million, representing a surprise of +1.28%. The company delivered an EPS surprise of -13.33%, with the consensus EPS estimate being $0.15.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

4Q24 Earnings Presentation ▪ Significant balance sheet strength reflecting lower-cost core deposit growth, incremental capital, and enhanced loan diversity. ▪ Adjusted pre-tax pre-provision net revenue ' increased 17% vs. a year aqo and adjusted PPNR / average assets ' is virtually flat vs 3Q24. ▪ Net interest income increased over 3%, expanding for the third consecutive quarter, primarily as a result of lower-cost core deposit growth and strong deposit beta performance. 4 Strategic Imperatives for 2025 Our ...

Valley National (VLY) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -13.33%. A quarter ago, it was expected that this holding company for Valley National Bank would post earnings of $0.18 per share when it actually produced earnings of $0.18, delivering no surprise.Over the last fou ...

Net Income and Profitability - Net income for Q4 2024 was $115.7 million, or $0.20 per diluted share, compared to $97.9 million in Q3 2024 and $71.6 million in Q4 2023[2] - Net income available to common stockholders for Q4 2024 was $108.7 million, up 18.5% from $91.7 million in Q3 2024[31] - Net income (GAAP) for Q4 2024 was $115.71 million, a 61.7% increase from $71.55 million in Q4 2023[40] - Adjusted net income available to common shareholders (non-GAAP) for Q4 2024 was $68.69 million, compared to $112.19 million in Q4 2023[40] - Net income available to common shareholders (non-GAAP) for full year 2024 was $322.19 million, a 40.1% decrease from $538.14 million in 2023[40] - Net income available to common shareholders was $358.90 million in 2024, down from $482.38 million in 2023[51] Net Interest Income and Margin - Net interest income increased to $424.3 million in Q4 2024, up $12.5 million from Q3 2024 and $25.7 million from Q4 2023[4] - Net interest margin rose to 2.92% in Q4 2024, up 6 basis points from Q3 2024 and 10 basis points from Q4 2023[10] - Net interest income for Q4 2024 increased to $424.3 million, up 3.0% from $411.8 million in Q3 2024[31] - Net interest margin for Q4 2024 improved to 2.91%, up from 2.85% in Q3 2024[31] - Net interest income rose to $422.98 million in Q4 2024, compared to $410.50 million in Q3 2024 and $397.28 million in Q4 2023[52] - Net interest margin improved to 2.92% in Q4 2024 on a fully tax equivalent basis, up from 2.86% in Q3 2024 and 2.82% in Q4 2023[52] Loans and Credit Quality - Total loans decreased by $555.6 million (4.5% annualized) to $48.8 billion in Q4 2024, primarily due to repayments in CRE and multifamily loans[11] - CRE loan concentration ratio declined to 362% at December 31, 2024 from 421% at September 30, 2024[6] - Total Non-Performing Assets (NPAs) increased by $68.2 million to $373.3 million at December 31, 2024, compared to $305.1 million at September 30, 2024[15] - Non-accrual loans increased by $63.2 million to $359.5 million at December 31, 2024, representing 0.74% of total loans, up from 0.60% at September 30, 2024[15] - Total accruing past due loans decreased by $75.5 million to $99.2 million, or 0.20% of total loans, at December 31, 2024, compared to $174.7 million, or 0.35% of total loans, at September 30, 2024[16] - Loans 30 to 59 days past due decreased by $58.0 million to $57.1 million at December 31, 2024, mainly due to a $55.5 million decrease in CRE loans[16] - Loans 90 days or more past due increased by $1.1 million to $5.9 million at December 31, 2024, compared to $4.8 million at September 30, 2024[17] - The allowance for credit losses for loans as a percentage of total loans was 1.17% at December 31, 2024, up from 1.14% at September 30, 2024 and 0.93% at December 31, 2023[18] - Net loan charge-offs totaled $98.3 million for the fourth quarter 2024, compared to $42.9 million and $17.5 million for the third quarter 2024 and the fourth quarter 2023, respectively[18] - Valley's loan portfolio totaled $48.8 billion at December 31, 2024, with gross loan charge-offs of $103.7 million for the fourth quarter 2024[18] - Total loans as of December 31, 2024, decreased to $48.8 billion from $49.4 billion in September 2024[33] - Allowance for credit losses for loans increased to $573,328 thousand as of December 31, 2024, up from $465,550 thousand in December 2023[35] - Total net charge-offs for loans in 2024 were $201,610 thousand, compared to $61,962 thousand in 2023[35] - Provision for credit losses for loans in 2024 was $309,388 thousand, significantly higher than $45,625 thousand in 2023[35] - Annualized ratio of total net charge-offs to average loans increased to 0.40% in 2024 from 0.13% in 2023[35] - Allowance for credit losses as a percentage of total loans rose to 1.17% in 2024 from 0.93% in 2023[35] - Total non-accrual loans as a percentage of loans increased to 0.74% in December 2024 from 0.58% in December 2023[38] - Total accruing past due and non-accrual loans as a percentage of loans rose to 0.94% in December 2024 from 0.76% in December 2023[38] - Allowance for losses on loans as a percentage of non-accrual loans decreased to 155.45% in December 2024 from 152.83% in December 2023[38] - Net losses on commercial real estate loan sales in Q4 2024 were $7.87 million, up from $5.79 million in Q3 2024[40] - Net loans decreased to $48.24 billion in 2024 from $49.76 billion in 2023, with a corresponding increase in the allowance for loan losses to $558.85 million[50] - Loans averaged $49,730.13 million in Q4 2024, slightly down from $50,126.96 million in Q3 2024 but up from $50,039.43 million in Q4 2023[52] Deposits and Funding - Non-interest bearing deposits increased by $274.9 million to $11.4 billion at December 31, 2024[6] - Total deposits decreased by $320.1 million to $50.1 billion at December 31, 2024, with a $1.8 billion decline in time deposits partially offset by increases in other deposit categories[13] - Deposits as of December 31, 2024, stood at $50.1 billion, slightly down from $50.4 billion in September 2024[33] - Total deposits grew to $50.08 billion in 2024 from $49.24 billion in 2023, driven by an increase in interest-bearing deposits[50] - Interest bearing deposits with banks increased to $1,414.67 million in Q4 2024, compared to $974.42 million in Q3 2024 and $885.69 million in Q4 2023[52] Capital and Liquidity - Valley's total risk-based capital ratio increased to 13.87% at December 31, 2024, compared to 12.56% at September 30, 2024, largely due to the issuance of 49.2 million shares of common stock[21] - Shareholders' equity increased to $7.4 billion as of December 31, 2024, from $7.0 billion in September 2024[33] - Tier 1 leverage capital ratio as of December 31, 2024, increased to 9.16% from 8.40% in September 2024[33] - Tangible book value per common share as of December 31, 2024 was $9.10, up from $8.79 in December 2023[49] - Tangible common equity to tangible assets ratio was 8.40% as of December 31, 2024, compared to 7.58% in December 2023[49] - Shareholders' equity increased to $7,255.16 million in Q4 2024, up from $6,862.56 million in Q3 2024 and $6,639.91 million in Q4 2023[52] Efficiency and Expense Management - Efficiency ratio improved to 57.21% in Q4 2024, compared to 56.13% in Q3 2024 and 60.70% in Q4 2023[8] - Efficiency ratio for Q4 2024 was 57.21%, slightly higher than 56.13% in Q3 2024[31] - Efficiency ratio for Q4 2024 was 57.21%, compared to 60.70% in Q4 2023[47] - Non-interest expense for Q4 2024 was $275.76 million, compared to $272.58 million in Q4 2023[47] - Total non-interest expense decreased to $1.11 billion in 2024 from $1.16 billion in 2023, primarily due to reductions in FDIC insurance assessments and professional fees[51] Revenue and Interest Income - Total revenue for Q4 2024 reached $474.2 million, a slight increase from $471.2 million in Q3 2024[31] - Gross operating income for Q4 2024 was $482.05 million, up from $449.09 million in Q4 2023[47] - Net interest income for the year ended December 31, 2024, was $1.63 billion, compared to $1.67 billion in 2023[51] - Non-interest income for 2024 was $224.50 million, slightly lower than $225.73 million in 2023[51] - Interest income from loans and fees was $3.08 billion in 2024, up from $2.89 billion in 2023[51] - Total interest expense rose to $1.73 billion in 2024 from $1.47 billion in 2023, driven by higher interest on deposits and borrowings[51] - Total interest earning assets increased to $58,214.78 million in Q4 2024, up from $57,651.65 million in Q3 2024 and $56,469.47 million in Q4 2023[52] - Taxable investments grew to $6,504.11 million in Q4 2024, up from $5,977.21 million in Q3 2024 and $4,950.77 million in Q4 2023[52] - Total interest bearing liabilities stood at $42,765.95 million in Q4 2024, slightly up from $42,656.96 million in Q3 2024 and $40,753.31 million in Q4 2023[52] Asset and Liability Management - Total assets increased to $62.49 billion in 2024 from $60.93 billion in 2023, reflecting growth in cash, interest-bearing deposits, and investment securities[50] Provision for Credit Losses - Provision for credit losses increased to $107.0 million in Q4 2024, compared to $75.0 million in Q3 2024 and $20.7 million in Q4 2023[6] - The provision for credit losses for loans totaled $107.0 million for the fourth quarter 2024, compared to $75.0 million for the third quarter 2024 and $20.7 million for the fourth quarter 2023[19] - Provision for credit losses for loans in 2024 was $309,388 thousand, significantly higher than $45,625 thousand in 2023[35] Other Financial Metrics - Annualized return on average assets (ROA) was 0.74% for Q4 2024, with adjusted ROA at 0.48%[8] - Annualized return on average assets for Q4 2024 was 0.74%, compared to 0.63% in Q3 2024[31] - Annualized return on average tangible shareholders' equity for Q4 2024 was 5.76%, compared to 10.10% in Q4 2023[47] - Annualized return on average assets for Q4 2024 was 0.48%, down from 0.76% in Q4 2023[47] - Basic earnings per share (EPS) for Q4 2024 were $0.13, down from $0.22 in Q4 2023[47] - Dividends on preferred stock for full year 2024 were $21.37 million, a 32.4% increase from $16.14 million in 2023[40] - Total non-GAAP adjustments to net income for Q4 2024 were $(37.48) million, primarily due to a $(46.43) million income tax benefit[40] - FDIC special assessment in Q4 2023 was $50.30 million, significantly higher than the $8.76 million for the full year 2024[40] - Restructuring charges in Q4 2024 were $1.09 million, compared to $(538) thousand in Q4 2023[40] - Merger-related expenses in Q4 2023 were $10.00 million, with no such expenses in 2024[40] - Litigation reserve in Q4 2023 was $3.54 million, with no similar reserve in 2024[40] - Average number of shares outstanding for Q4 2024 was 536.16 million, up from 507.68 million in Q4 2023[47]

NEW YORK, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, today reported net income for the fourth quarter 2024 of $115.7 million, or $0.20 per diluted common share, as compared to the third quarter 2024 net income of $97.9 million, or $0.18 per diluted common share, and net income of $71.6 million, or $0.13 per diluted common share, for the fourth quarter 2023. Excluding all non-core income and charges, our adjusted net income (a non-GAA ...

Investors in Valley National Bancorp (VLY) need to pay close attention to the stock based on moves in the options market lately. That is because the Mar 21, 2025 $02.00 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could ...

Wall Street analysts forecast that Valley National (VLY) will report quarterly earnings of $0.15 per share in its upcoming release, pointing to a year-over-year decline of 31.8%. It is anticipated that revenues will amount to $469.49 million, exhibiting an increase of 4.3% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Valley National (VLY) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on January 23, 2025, might help the stock move higher if these key numbers are better tha ...

NEW YORK, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY), the holding company for Valley National Bank, announced that it will release its fourth quarter 2024 earnings before the market opens on Thursday, January 23, 2025. Valley’s CEO, Ira Robbins will host a conference call on Thursday, January 23, 2025 at 11:00 AM (ET) to discuss Valley’s fourth quarter 2024 earnings. Interested parties should pre-register using this link: https://register.vevent.com/register/BIae2379032fe94367aab ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 (Mark One) FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-11277 Valley National Bancorp (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 1 ...