Valley National: Q4 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported fourth-quarter net income of $115.7 million.

The New York-based bank said it had earnings of 20 cents per share. Earnings, adjusted for non-recurring gains, came to 13 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 15 cents per share.

The holding company for Valley National Bank posted revenue of $886 million in the period. Its revenue net of interest expense was $475.5 million, topping Street forecasts. Six analysts surveyed by Zacks expected $469.5 million.

For the year, the company reported profit of $380.3 million, or 69 cents per share. Revenue was reported as $1.86 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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