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Valley National: Q1 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported first-quarter profit of $163.9 million.

The bank, based in New York, said it had earnings of 28 cents per share. Earnings, adjusted for non-recurring costs, were 29 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The holding company for Valley National Bank posted revenue of $871.6 million in the period. Its revenue net of interest expense was $541.6 million, which also beat Street forecasts. Six analysts surveyed by Zacks expected $532.6 million.

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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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