NEW YORK (AP) — NEW YORK (AP) — Valley National Bancorp (VLY) on Thursday reported first-quarter earnings of $106.1 million.
The bank, based in New York, said it had earnings of 18 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The holding company for Valley National Bank posted revenue of $843 million in the period. Its revenue net of interest expense was $479.7 million, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $485.9 million.
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