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Valley National Bancorp - VLY STOCK NEWS

Welcome to our dedicated page for Valley National Bancorp news (Ticker: VLY), a resource for investors and traders seeking the latest updates and insights on Valley National Bancorp stock.

Valley National Bancorp (NYSE: VLY) is a bank holding company with Valley National Bank as its principal wholly-owned subsidiary. Specializing in commercial, retail, trust, and investment services, Valley National Bancorp operates through an extensive network of 213 branches and 254 ATMs across northern and central New Jersey, New York City, Long Island, Florida, and Alabama.

As a regional bank, Valley National Bank provides a full range of banking services to both individual consumers and businesses. These services include cash management, consumer and commercial lending, investment alternatives, insurance, and estate planning solutions. Clients can access these services through traditional branches, ATMs, and digital platforms such as online banking and mobile apps.

Valley National Bancorp is distinguished by its conservative approach, which aims to safeguard the interests of its customers, shareholders, and employees, particularly during uncertain economic times. This approach allows the bank to deliver not only a wide array of resources but also customized solutions akin to those offered by local community banks. Their commitment to outstanding customer service has cemented their reputation as a trustworthy financial institution.

In recent years, Valley National Bancorp has focused on strategic acquisitions to expand its footprint beyond traditional banking. This has included an emphasis on wealth and capital management services, aiming to provide comprehensive financial solutions to its diverse clientele. The bank's core business segments are commercial lending, consumer lending, investment management, and corporate adjustments, with the majority of its interest income derived from commercial lending activities.

In terms of financial performance, Valley National Bancorp has shown consistent growth. The company's interest income is presented on a tax-equivalent basis using a 21 percent federal tax rate. Loan portfolios are net of unearned income and include non-accrual loans. The bank also manages available for sale securities based on average historical amortized costs and includes junior subordinated debentures issued to capital trusts.

Valley National Bancorp regularly updates its stakeholders with quarterly earnings reports. As of the latest update, the bank will release its fourth quarter 2023 earnings on January 25, 2024. This will be followed by a conference call hosted by CEO Ira Robbins, providing insights into the company's financial health and future plans.

For more information, you can visit their official website at valleynationalbank.com.

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Valley National Bancorp (NASDAQ:VLY) reported a net income of $116.7 million for Q1 2022, slightly up from $115.7 million in Q1 2021. Adjusted net income was $120.3 million. Total loans surged by $1.2 billion to $35.4 billion, driven primarily by commercial real estate and residential mortgage growth. Net interest income increased to $318.4 million, though net interest margin fell to 3.16%. Non-interest income rose to $39.3 million. Credit quality remained strong with non-accrual loans at 0.65%.

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Valley National Bancorp (NASDAQ:VLY) announced a stock repurchase program authorized by its Board, allowing for the buyback of up to 25 million shares of common stock by April 25, 2024. This decision follows the termination of a previous repurchase program from 2007. The buybacks will depend on market conditions and are subject to compliance with SEC regulations. Valley operates with approximately $50 billion in assets and recently acquired Bank Leumi USA, enhancing its regional presence.

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Valley National Bancorp (NASDAQ:VLY) will announce its first quarter 2022 earnings before market opening on April 28, 2022. CEO Ira Robbins will host a conference call on the same day at 11:00 AM ET to discuss the earnings report. Interested listeners can participate by calling toll-free 866-354-0432, using Conference ID 3674992, or joining via a live webcast available on Valley's website, with an archive accessible until May 30, 2022. The bank, with approximately $50 billion in assets, continues its commitment to providing comprehensive banking services across several states.

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Valley National Bancorp (NASDAQ: VLY) has completed its acquisition of Bank Leumi Le-Israel Corporation as of April 1, 2022. Valley issued approximately 85 million shares and paid $113 million in cash for the transaction, with shareholders of Leumi USA receiving 3.8025 shares of Valley stock and $5.08 in cash for each of their shares. Bank Leumi brings around $8.3 billion in assets and strengthens Valley's commercial banking expertise, particularly in technology and private banking, positioning them for growth in diverse markets.

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Valley Bank and Bank Leumi USA have released their inaugural Present & Future of Proptech report, highlighting significant investment trends in the property technology sector. In 2021, a record $5.1 billion was invested across 219 transactions. The report emphasizes the increasing intersection of technology and real estate, identifying sustainability and security as key future themes within Proptech. This collaboration aims to shed light on opportunities for developers and investors amid the ongoing economic recovery from COVID-19.

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Valley National Bancorp (NASDAQ:VLY) announced it has received all necessary regulatory approvals for its acquisition of Bank Leumi Le-Israel Corporation, the U.S. subsidiary of Bank Leumi Le-Israel B.M. This includes approvals from the Federal Reserve Bank of New York, the Office of the Comptroller of the Currency, the New York State Department of Financial Services, and the Bank of Israel. The merger is expected to close on April 1, 2022, pending customary conditions. Valley National Bank operates with approximately $43 billion in assets, focusing on community support and innovative banking services.

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Pronto Housing, an innovative affordable housing compliance Software-as-a-Service (SaaS) platform, has announced new partnerships with key investors including Valley National Bank (NASDAQ: VLY) and Fifth Wall. This follows their successful $2.5 million seed funding round, bringing total investments to $4.5 million. These partnerships aim to enhance product development and streamline affordable housing processes, significantly improving efficiency for both property owners and residents. Pronto Housing targets the 11 million Americans in housing instability by automating compliance and reducing manual operations.

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Valley National Bancorp (NASDAQ:VLY) announced its regular preferred and common dividends for shareholders of record on March 15, 2022. A cash dividend of $0.390625 per share will be paid on its 6.25% Fixed-To-Floating Rate Non-Cumulative Perpetual Preferred Stock Series A and $0.34375 for Series B, both on March 30, 2022. Additionally, a cash dividend of $0.11 per share will be paid on common stock on April 1, 2022. The common stock dividend amount remains unchanged from the previous quarter.

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Demolition has commenced for Valley National Bank's new headquarters in Morristown, NJ, set to open by March 2023. The modern, high-performance office will accommodate over 660 employees and features innovative design catered to the workforce's needs. This relocation from Wayne, NJ, to a prime downtown location aims to enhance employee experience and attract top talent. Valley's new base will be approximately 120,000 square feet, integrating outdoor spaces and retail options, thus invigorating the local economy.

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Valley National Bancorp (NASDAQ:VLY) reported a net income of $115 million for Q4 2021, up from $105.4 million in Q4 2020, but down from $122.6 million in Q3 2021. The recent acquisition of The Westchester Bank added approximately $1.4 billion in assets and $915 million in loans. Adjusted net income was $120.5 million. Total loans increased by $1.5 billion to $34.2 billion, while total deposits rose by $2 billion to $35.6 billion. Non-interest income fell by $4.2 million, and non-interest expenses increased by $9.6 million. The efficiency ratio stood at 52.19%.

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FAQ

What is the current stock price of Valley National Bancorp (VLY)?

The current stock price of Valley National Bancorp (VLY) is $9.16 as of December 20, 2024.

What is the market cap of Valley National Bancorp (VLY)?

The market cap of Valley National Bancorp (VLY) is approximately 5.2B.

What services does Valley National Bancorp offer?

Valley National Bancorp offers commercial and retail banking, cash management, consumer and commercial lending, investment management, insurance, and estate planning solutions.

Where are Valley National Bank's branches located?

Valley National Bank operates 213 branches and 254 ATMs across northern and central New Jersey, New York City, Long Island, Florida, and Alabama.

What is Valley National Bancorp's approach to banking?

Valley National Bancorp follows a conservative approach aimed at protecting its customers, shareholders, and employees, delivering both extensive resources and customized solutions.

How can I access Valley National Bank's services?

You can access their services through traditional branches, ATMs, online banking, and mobile devices.

What are the main business segments of Valley National Bancorp?

The primary business segments are commercial lending, consumer lending, investment management, and corporate adjustments.

How does Valley National Bancorp communicate its financial performance?

Valley National Bancorp regularly publishes quarterly earnings reports and holds conference calls hosted by their CEO to discuss financial results and future plans.

What recent strategic focus has Valley National Bancorp adopted?

Recently, Valley National Bancorp has focused on strategic acquisitions and expanding wealth and capital management services.

Who is the CEO of Valley National Bancorp?

The current CEO of Valley National Bancorp is Ira Robbins.

What is the ticker symbol for Valley National Bancorp?

The ticker symbol for Valley National Bancorp is NYSE: VLY.

Where can I find more information about Valley National Bancorp?

For more details, you can visit their official website at https://www.valleynationalbank.com.

Valley National Bancorp

Nasdaq:VLY

VLY Rankings

VLY Stock Data

5.18B
550.53M
1.37%
73.11%
6.11%
Banks - Regional
National Commercial Banks
Link
United States of America
NEW YORK