Valley Ntl Q4 2023 Adj EPS $0.22 Misses $0.25 Estimate, Sales $449.97M Miss $468.14M Estimate
Portfolio Pulse from Benzinga Newsdesk
Valley National Bancorp (NASDAQ: VLY) reported Q4 2023 adjusted earnings per share (EPS) of $0.22, missing the consensus estimate of $0.25 by 12%. Year-over-year, this represents a 37.14% decrease from the $0.35 EPS reported in the same period last year. Quarterly sales were $449.97 million, falling short of the $468.14 million estimate by 3.88% and marking a 13.24% decrease from the previous year's sales of $518.62 million.
January 25, 2024 | 12:14 pm
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Valley National Bancorp reported lower-than-expected Q4 earnings and sales, with a notable decrease compared to last year's figures.
The missed earnings and sales estimates, along with the significant year-over-year decline, are likely to negatively impact investor sentiment and could lead to a short-term decrease in Valley National Bancorp's stock price. Earnings reports are critical moments for investors to gauge a company's financial health and future prospects, and missing estimates can often result in a negative market reaction.
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