Valley National: Q4 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported fourth-quarter earnings of $71.6 million.

The New York-based bank said it had earnings of 13 cents per share. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The holding company for Valley National Bank posted revenue of $870.9 million in the period. Its revenue net of interest expense was $450 million, also missing Street forecasts. Six analysts surveyed by Zacks expected $465.8 million.

For the year, the company reported profit of $498.5 million, or 95 cents per share. Revenue was reported as $1.89 billion.

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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