Loading...
•
Mar 31, 2021
Valley National Q1 2021 Earnings Report
Valley National Bancorp's net income increased by 33 percent and net interest margin was strong in Q1 2021.
Key Takeaways
Valley National Bancorp reported a strong first quarter in 2021, with net income increasing by 33% compared to the first quarter of 2020. The company's net interest margin also showed positive growth, driven by strategic loan origination, effective management of funding costs, and a focus on operating efficiencies.
Net income for the first quarter 2021 was $115.7 million, or $0.28 per diluted common share.
Net interest income on a tax equivalent basis increased to $293.6 million.
Loans increased $469.3 million to $32.7 billion.
The efficiency ratio was 49.46 percent for the first quarter 2021.
Revenue by Segment
Forward Guidance
Valley National Bancorp is positioned for continued success in 2021 due to its loan origination activities, ability to manage funding costs, and focus on operating efficiencies and new technologies.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...