Valley National Bancorp Q3 Profit Increases, Beats Estimates

(RTTNews) - Valley National Bancorp (VLY) announced a profit for its third quarter that Increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $155.71 million, or $0.28 per share. This compares with $91.74 million, or $0.18 per share, last year.

Excluding items, Valley National Bancorp reported adjusted earnings of $156.44 million or $0.28 per share for the period.

Analysts on average had expected the company to earn $0.26 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 8.5% to $511.11 million from $471.17 million last year.

Valley National Bancorp earnings at a glance (GAAP) :

-Earnings: $155.71 Mln. vs. $91.74 Mln. last year. -EPS: $0.28 vs. $0.18 last year. -Revenue: $511.11 Mln vs. $471.17 Mln last year.