Valley Ntl Q1 2024 Adj EPS $0.19 Misses $0.20 Estimate, Sales $454.963M Miss $455.121M Estimate
Portfolio Pulse from Benzinga Newsdesk
Valley National Bancorp (VLY) reported Q1 2024 adjusted EPS of $0.19, missing the $0.20 estimate, and sales of $454.963M, slightly below the $455.121M estimate. This represents a 36.67% decrease in earnings and a 7.21% decrease in sales compared to the same period last year.

April 25, 2024 | 11:26 am
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Valley National Bancorp (VLY) reported lower than expected Q1 2024 earnings and sales, indicating a significant year-over-year decline.
Missing both earnings and sales estimates, especially with a significant year-over-year decline, typically leads to negative investor sentiment in the short term. The reported figures indicate a substantial decrease in profitability and revenue, which could lead to downward pressure on VLY's stock price as investors adjust their expectations.
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