Valley National: Q2 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported second-quarter profit of $139.1 million.
The bank, based in New York, said it had earnings of 27 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The holding company for Valley National Bank posted revenue of $847.5 million in the period. Its revenue net of interest expense was $479.8 million, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $491.9 million.
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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
