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Valley National posts 4Q profit

WAYNE, N.J. (AP) _ Valley National Bancorp (VLY) on Wednesday reported fourth-quarter earnings of $50.1 million.

The bank, based in Wayne, New Jersey, said it had earnings of 19 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The holding company for Valley National Bank posted revenue of $233.8 million in the period. Its adjusted revenue was $197.1 million.

For the year, the company reported profit of $168.1 million, or 63 cents per share. Revenue was reported as $721.4 million.

Valley National shares have decreased roughly 2 percent since the beginning of the year. The stock has climbed 37 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLY at https://www.zacks.com/ap/VLY


Keywords: Valley National, Earnings Report