Wed, May 20, 3:46 PM
Thu, Apr. 30, 9:02 AM| Comment!
Thu, Feb. 26, 10:39 AM
Thu, Jan. 29, 7:36 AM| 2 Comments
Nov. 19, 2014, 11:36 AM
Nov. 3, 2014, 11:06 AM
- 1st United Bancorp (NASDAQ:FUBC) owns 20 branches in southeast and central Florida.
- Valley National Bancorp's (VLY +1%) purchase was completed over the weekend and full systems integration is expected during Q1.
- Valley will issue about 30.7M shares of stock, with FUBC shareholders receiving 0.89 share of Valley for each share of 1st United they own.
- Source: Press release
Oct. 29, 2014, 9:09 AM
- EPS of $0.14 vs. $0.15 in 2Q14
- Net Interest Income of $114.7M down 2.8M from 2Q due to lower yields on new and refinanced loans
- NIM of 3.11% vs. 3.22% in 2Q14
- Non-Interest Income increased 1.7M to $14.1M due to change in the FDIC loss-share receivables.
- Annualized Return on Average Assets 0.67%. Efficiency ratio 70.55%
- Book Value of $7.89 vs. $7.85 in Q2
- Tier I risk based capital ratio of 9.58% vs. 9.80% in Q2
- VLY No trades PM
- Previously: Valley National Bancorp EPS in-line, misses on revenue
Oct. 29, 2014, 7:34 AM| Comment!
Oct. 28, 2014, 5:30 PM
- ACCO, ADP, AIT, ALKS, ALLY, AMED, ARW, AUO, AVX, BAH, BDC, CCJ, CFR, CKSW, CMC, COT, CTCM, DXYN, ETN, EVER, EXC, GHM, GRMN, GT, H, HES, HSY, IACI, ISSI, JLL, LFUS, MHFI, MRGE, MTH, NVMI, OMG, PAG, PB, PSX, PSXP, PX, RES, RL, ROL, RYAM, SEE, SKYW, SO, SODA, SPW, SPWR, STM, TEL, TFX, UAM, UBSI, VLY, WEC, WLP, WM, XRAY
Oct. 22, 2014, 4:49 PM
- Valley National Bancorp (NYSE:VLY) will close its acquisition of 1st United Bancorp (NASDAQ:FUBC) on November 1, with full integration of the two's systems to be completed in 2015 Q1.
- Source: Press Release
- Previously: Valley National greenlighted for 1st United purchase
Oct. 20, 2014, 12:46 PM
- Valley National Bancorp (VLY +0.2%) has received regulatory and shareholder approvals for its purchase of 1st United Bancorp (FUBC +0.7%). FUBC owners will receive 0.89 share of VLY for each share of FUBC they own, subject to adjustment should Valley fall below $8.09 or rise above $12.13 prior to closing, which is expected in the near future.
- The purchase provides entree into Florida for the New York/New Jersey-based Valley National, and the combined company will have about $18B in assets and 224 branches.
- Source: Press Release
Aug. 20, 2014, 1:59 PM
Jul. 30, 2014, 12:39 PM
- Q2 net income of $29.5M or $0.15 per share vs. $33.9M and $0.17 one year ago as the slowdown in the mortgage market dealt a big blow to the bank's gain on sales of loans.
- Net interest income of $117.4M up $7.5M from a year ago, with NIM up 12 basis points to 3.27%.
- Solid organic auto loan growth led a 4.7% annualized gain in total non-covered loans.
- No provision taken for non-covered loan losses vs. a $2.7M charge one year ago.
- CEO Gerald Lipkin: "We remain upbeat on our ability to reduce our overall funding cost as over $1.5 billion of high cost long-term borrowings mature beginning in 2015 through 2017."
- Previously: Valley National Bancorp beats by $0.02, misses on revenue
- VLY opened nicely higher, but is now flat on the session
Jul. 30, 2014, 7:44 AM| Comment!
May 20, 2014, 5:29 PM
May 9, 2014, 2:16 PM
- BofA Merrill Lynch upgrades National Bank of Greece (NBG +1.7%) to Neutral.
- Raymond James boosts Valley National Bancorp (VLY +0.9%) to Market Perform and concurrently cashes in its Buy call on United Bancorp (FUBC +0.7%) after Valley National Bank agrees to acquire 1st United.
- MLV cuts Dynex Capital (DX -0.4%) from Buy to Hold.
VLY vs. ETF Alternatives
Valley National Bancorp is a bank holding company. It operates and manages its business through four business segments: Commercial lending, Consumer lending, Investment management and corporate and Other adjustments.
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