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Valley National Bancorp ( (VLY) ) has provided an announcement.
Valley National Bancorp reported a net income of $115.7 million for the fourth quarter of 2024, showing an increase from the previous quarters. The company has made significant progress in improving its balance sheet, which includes reduced CRE loan concentration and increased loan diversity, aiming to boost profitability in 2025. Key financial changes included a 6 basis point increase in net interest margin, a decrease in total loans due to repayment and sales, and a rise in non-interest expenses driven by transformation efforts. Additionally, they saw a notable change in tax positions, resulting in a tax benefit for the fourth quarter.
More about Valley National Bancorp
Valley National Bancorp is a financial services company operating in the banking industry, primarily offering commercial and consumer banking services. The company is focused on strengthening its financial position through initiatives such as capital improvement, enhancing its funding base, and diversifying its loan portfolio.
YTD Price Performance: 10.19%
Average Trading Volume: 7,660,060
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $5.5B
See more data about VLY stock on TipRanks’ Stock Analysis page.
