Valley National Bancorp(US:VLY) ZACKSยท2025-01-23 15:36Financial Performance - Valley National reported revenue of $475.48 million for the quarter ended December 2024, a year-over-year increase of 5.7% [1] - The EPS for the same period was $0.13, down from $0.22 a year ago, indicating a decline [1] - The reported revenue exceeded the Zacks Consensus Estimate of $469.49 million by 1.28%, while the EPS fell short of the consensus estimate of $0.15 by 13.33% [1] Key Metrics - Efficiency Ratio stood at 57.2%, matching the six-analyst average estimate [4] - Net Interest Margin was 2.9%, also in line with the six-analyst average estimate [4] - The annualized ratio of total net charge-offs to total average loans was 0.8%, higher than the 0.4% average estimate [4] - Average Balance of Total Interest Earning Assets was $58.21 billion, exceeding the five-analyst average estimate of $57.09 billion [4] - Total Non-Interest Income was $51.20 million, below the $58.06 million average estimate [4] - Net Interest Income (FTE) was $424.28 million, surpassing the $411.38 million average estimate [4] - Wealth Management and Trust Fees were $16.43 million, above the five-analyst average estimate of $15.25 million [4] - Insurance Commissions reached $3.71 million, exceeding the five-analyst average estimate of $3.24 million [4] - Service Charges on Deposit Accounts totaled $12.99 million, compared to the $12.21 million average estimate [4] - Bank Owned Life Insurance was $3.78 million, below the $4.52 million average estimate [4] - Fees from Loan Servicing amounted to $3.07 million, slightly below the $3.27 million average estimate [4] - Net Interest Income was reported at $422.98 million, higher than the $410.15 million average estimate [4] Stock Performance - Valley National's shares returned +6.2% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]