Valley National Bancorp Posts Q3 Net Income of $206.3 Million, Beating Analyst Estimates

Valley National Bancorp (VLY) on Thursday reported third-quarter net income of $206.3 million, or 36 cents per share, surpassing Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share. The New York-based holding company for Valley National Bank posted revenue of $935.9 million in the period. Revenue net of interest expense was $585.5 million, also beating Street forecasts of $577.6 million from four analysts surveyed by Zacks.