Edition:
United States

Valley National Bancorp (VLY)

VLY on New York Consolidated

11.19USD
18 Aug 2017
Change (% chg)

$0.12 (+1.08%)
Prev Close
$11.07
Open
$10.98
Day's High
$11.22
Day's Low
$10.90
Volume
928,326
Avg. Vol
1,711,671
52-wk High
$12.82
52-wk Low
$9.19

Latest Key Developments (Source: Significant Developments)

Valley National Bancorp says upon termination of deal under certain conditions, USAB to pay co $30 mln - SEC Filing
Friday, 28 Jul 2017 11:58am EDT 

July 28 (Reuters) - Valley national bancorp :Upon termination of deal under certain circumstances, USAmeriBancorp to pay co termination fee of $30 million - SEC Filing.If deal terminated under other certain circumstances, co to pay USAB up to $2 million of USAB's reasonable out of pocket expenses.  Full Article

Valley National Bancorp announces commencement of Series B preferred stock offering
Wednesday, 26 Jul 2017 09:01am EDT 

July 26 (Reuters) - Valley National Bancorp :Valley National Bancorp announces commencement of Series B preferred stock offering.Valley National Bancorp - ‍commenced a public offering of its non-cumulative perpetual preferred stock​.  Full Article

Valley National Bancorp Q2 earnings per share $0.18
Wednesday, 26 Jul 2017 08:05am EDT 

July 26 (Reuters) - Valley National Bancorp :Valley National Bancorp reports a 28 percent increase in second quarter net income and $22 million of planned earnings enhancements.Q2 earnings per share $0.18.Q2 earnings per share view $0.18 -- Thomson Reuters I/B/E/S.Valley National Bancorp - ‍net interest income on a tax equivalent basis of $171.1 million for Q2 of 2017 increased $17.6 million compared to Q2 of 2016​.Valley National Bancorp - ‍during July 2017, completed idea generation and approval phase of lift program​.Valley National Bancorp - ‍plan to achieve approximately $22 million in total cost reductions and revenue enhancements on an annualized pre-tax run-rate​.Valley National Bancorp - ‍implementation phase of initiative enhancements currently underway, is expected to be fully phased-in over next 24 months​.Valley National Bancorp - about $22 million in total cost reductions achieved through combination of workforce reduction, other efficiency, revenue initiatives.Valley National Bancorp - sees workforce reduction, other initiatives to result in employee severance & other implementation costs of about $11 million.Majority of the approximately $11 million costs will be recorded in Q3 of 2017.  Full Article

Valley National Bancorp to acquire USAmeribancorp
Wednesday, 26 Jul 2017 08:00am EDT 

July 26 (Reuters) - Valley National Bancorp :Valley National Bancorp to acquire USAmeribancorp, Inc. and substantially enhance its Florida franchise.Valley National Bancorp - deal for $816 million.Valley National Bancorp - ‍common shareholders of USAB will receive 6.1 shares of Valley common stock for each USAB share they own​.Valley National Bancorp - ‍valley anticipates transaction will be accretive to Valley's per share earnings within 12 months from closing​.Valley National Bancorp - ‍commenced a preferred stock offering of approximately $75 million​.Valley National-co anticipates that merger with USAB, which will involve changing USAmeribank's name to Valley National Bank in Florida and Alabama.Valley National Bancorp - ‍valley anticipates that merger with USAB will be a non-taxable transaction​.Valley National Bancorp - boards of directors of both companies, after extensive review and due diligence, have unanimously approved transaction.Expects deal to be a non-taxable transaction.Combined company is expected to have approximately $28 billion in assets, $21 billion in loans, $21 billion in deposits.Valley - ‍USAB shareholders to get 6.1 shares of co stock subject to adjustment in event co's VWA stock price falls below $11.50/rises above $13.00.If volume-weighted average closing price is less than $11.50, then exchange ratio will be $69.00 divided by VWA closing price.  Full Article

Valley National Bancorp reports Q1 EPS $0.17
Wednesday, 26 Apr 2017 08:00am EDT 

April 26 (Reuters) - Valley National Bancorp :Valley National Bancorp reports a 27 percent increase in first quarter net income.Q1 earnings per share $0.17.Q1 earnings per share view $0.17 -- Thomson Reuters I/B/E/S.Qtrly net interest income increased $14.6 million as compared to Q1 of 2016, and decreased $1.9 million as compared to Q4 of 2016.  Full Article

Valley National Bancorp reports Q4 earnings per share $0.19
Wednesday, 25 Jan 2017 08:00am EST 

Valley National Bancorp : Valley National Bancorp says net interest income on a tax equivalent basis of $166.6 million for q4 of 2016 increased $10.3 million as compared to q3 of 2016 . Valley National Bancorp reports strong increase in fourth quarter net income, solid net interest margin and commercial loan growth . Q4 earnings per share $0.19 . Q4 earnings per share view $0.18 -- Thomson Reuters I/B/E/S .Valley National Bancorp - net interest margin on tax equivalent basis increased 13 basis points to 3.27 percent in Q4 of 2016 as compared to 3.14 percent for Q3 of 2016.  Full Article

Valley National Bancorp reports $405 mln debt modification
Tuesday, 9 Aug 2016 04:36pm EDT 

Valley National Bancorp : Valley national bancorp reports a $405 million debt modification and other long-term borrowing cost enhancements . Debt transactions will result in pre-tax interest expense savings of approximately $4.8 million on an annualized basis . Valley terminated a fair value interest rate swap with a notional amount of $125 million in august 2016 .Prepayment penalties will not result in a loss charged to earnings in q3 of 2016.  Full Article

Valley National Bancorp Q2 earnings per share $0.15
Wednesday, 27 Jul 2016 08:00am EDT 

Valley National Bancorp : Q2 earnings per share view $0.16 -- Thomson Reuters I/B/E/S . Net interest income of $151.5 million for three months ended June 30, 2016 increased $3.3 million as compared to q1 of 2016 . Net interest margin on tax equivalent basis of 3.14 percent for q2 of 2016 increased 6 basis points from q1 of 2016 .Valley national bancorp reports a 16 percent increase in second quarter net income, solid loan growth and asset quality.  Full Article