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Valley National: Q4 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported fourth-quarter net income of $195.4 million.

The New York-based bank said it had earnings of 33 cents per share. Earnings, adjusted for non-recurring gains, came to 31 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The holding company for Valley National Bank posted revenue of $892.1 million in the period. Its revenue net of interest expense was $542.5 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $524.7 million.

For the year, the company reported profit of $598 million, or $1.01 per share. Revenue was reported as $2.03 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLY at https://www.zacks.com/ap/VLY

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