NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported second-quarter earnings of $70.4 million.
The bank, based in New York, said it had earnings of 13 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The holding company for Valley National Bank posted revenue of $884.7 million in the period. Its revenue net of interest expense was $454.2 million, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $458.7 million.
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