Valley National (VLY) Reports Q4 Earnings: What Key Metrics Have to Say
Valley National (VLY) reported $449.97 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 13.2%. EPS of $0.22 for the same period compares to $0.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $465.83 million, representing a surprise of -3.41%. The company delivered an EPS surprise of -12.00%, with the consensus EPS estimate being $0.25.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Valley National performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 60.7% versus the five-analyst average estimate of 57.2%.
Net Interest Margin: 2.8% compared to the 2.9% average estimate based on five analysts.
Average Balance - Total interest earning assets: $56.47 billion versus $56.83 billion estimated by four analysts on average.
Annualized ratio of total net charge-offs (recoveries) to total average loans: 0.1% versus the three-analyst average estimate of 0.1%.
Net interest income - FTE: $398.58 million compared to the $413.08 million average estimate based on five analysts.
Total non-interest Income: $52.69 million compared to the $52.73 million average estimate based on five analysts.
Bank owned life insurance: $4.11 million versus $2.43 million estimated by four analysts on average.
Gains on sales of loans, net: $2.30 million versus the four-analyst average estimate of $1.74 million.
Insurance commissions: $3.22 million versus the four-analyst average estimate of $2.46 million.
Wealth management and trust fees: $11.98 million versus the four-analyst average estimate of $11.33 million.
Service charges on deposit accounts: $9.34 million compared to the $10.48 million average estimate based on four analysts.
Fees from loan servicing: $2.62 million compared to the $2.48 million average estimate based on three analysts.
View all Key Company Metrics for Valley National here>>>
Shares of Valley National have returned -2.2% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Valley National Bancorp (VLY) : Free Stock Analysis Report
