NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported first-quarter earnings of $146.6 million.
The New York-based bank said it had earnings of 28 cents per share. Earnings, adjusted for non-recurring costs, came to 30 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The holding company for Valley National Bank posted revenue of $774.5 million in the period. Its revenue net of interest expense was $490.3 million, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $518.6 million.
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