Sandler O'Neill Upgrades Valley National Bancorp (VLY) to Buy
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Valley National Bancorp Reports Higher Net Interest Income And Margin In Its Fourth Quarter Earnings, And Prepaid High Cost Borrowings And Branch "Right-Sizing" To Enhance Future Income
January 27, 2016 7:01 AM ESTWAYNE, N.J., Jan. 27, 2016 /PRNewswire/ -- Valley National Bancorp (NYSE: VLY), the holding company for Valley National Bank, today reported net income for the fourth quarter of 2015 of $4.7 million, or $0.01 per diluted common share as compared to the fourth quarter of 2014 earnings of $25.1 million, or $0.11 per diluted common share. The 2015 fourth quarter earnings included several infrequent items highlighted in the section below, including a previously disclosed $51.1 million loss on the extinguishment of higher cost debt.
Net income for the year ended December 31, 2015 was $103.0 million, or $0.42 per diluted common share, compared to 2014... More
