Valley National Bancorp Third Quarter 2024 Earnings: In Line With Expectations

Simply Wall St · 10/25 11:29

Valley National Bancorp (NASDAQ:VLY) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$390.3m (down 15% from 3Q 2023).
  • Net income: US$91.7m (down 33% from 3Q 2023).
  • Profit margin: 24% (down from 30% in 3Q 2023). The decrease in margin was driven by lower revenue.
  • EPS: US$0.18 (down from US$0.27 in 3Q 2023).
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NasdaqGS:VLY Earnings and Revenue Growth October 25th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Valley National Bancorp Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Valley National Bancorp has 1 warning sign we think you should be aware of.