Last $9.95 USD
Change Today +0.05 / 0.51%
Volume 675.8K
VLY On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

1455 Valley Road

Wayne, NJ 07470

United States

Phone: 973-305-8800

Fax:

Valley National Bancorp operates as the bank holding company for the Valley National Bank that provides commercial, retail, and trust and investment services. The company has 204 branches in 144 communities serving 16 counties throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn and Queens, as well as Long Island, New York. The company provides a range of commercial, retail and wealth management financial services products. It provides banking services, including automated teller machines, telephone and Internet banking, remote deposit capture, overdraft facilities, drive-in and night deposit services, and safe deposit facilities. The company also provides certain international banking services to customers including standby letters of credit, documentary letters of credit and related products, and certain ancillary services such as foreign exchange, documentary collections, foreign wire transfers and the maintenance of foreign bank accounts. Segments The company manages its business through four business segments: Commercial Lending, Consumer Lending, and Investment Management. Commercial Lending This segment includes commercial and industrial loans, and commercial real estate loans. Commercial and Industrial Loans: The company makes commercial loans to small and middle market businesses located in the New Jersey and New York area. Commercial loan products offered consist of term loans for equipment purchases, working capital lines of credit that assist its customer’s financing of accounts receivable and inventory, and commercial mortgages for owner occupied properties. In addition, through the company’s subsidiaries, it owns and services general aviation aircraft loans; provides financing to the diamond and jewelry industry, the medical equipment leasing market; and engages in asset-based accounts receivable and inventory financing. Commercial Real Estate Loans: The company originates commercial real estate loans that are secured by multi-unit residential property and non-owner occupied commercial, industrial, and retail property within New Jersey, New York, and Pennsylvania. With respect to loans to developers and builders, it originates and manages construction loans structured on either a revolving or a non-revolving basis, depending on the nature of the underlying development project. Consumer Lending This segment includes residential mortgage loans, other consumer loans, and wealth management. Residential Mortgage Loans: The company offers a range of residential mortgage loans for the purpose of purchasing or refinancing 1-4 family residential properties. Residential mortgage loans are secured by 1-4 family properties located in counties where the company has a branch presence and contiguous counties (including the state of Pennsylvania). Other Consumer Loans: The company’s other consumer loan portfolio primarily includes direct and indirect automobile loans, home equity loans and lines of credit, loans secured by the cash surrender value of life insurance, and secured and unsecured other consumer loans (including credit card loans). Wealth Management: The company’s Wealth Management division provides coordinated and integrated delivery of asset management advisory, trust, general insurance, title insurance, asset management advisory, and asset-based lending support services. Investment Management This segment primarily focuses on the company’s lending and wealth management services, a portion of its income is generated through investments in various types of securities, and depending on its liquid cash position, federal funds sold and interest-bearing deposits with banks (primarily the Federal Reserve Bank of New York), as part of the company’s asset/liability management strategies. Investment Portfolio As of December 31, 2013, the company’s investment securities included U.S. treasury securities; U.S. government agencies, tax-exempt issues of states and political subdivisions; residential mortgage-backed securities (including 15 private label mortgage-backed securities); single-issuer trust preferred securities principally issued by bank holding companies; and corporate bonds and perpetual preferred and common equity securities issued by banks. Deposits The company provides various deposit products, such as NOW and money market accounts, savings accounts, and non-interest-bearing accounts. Regulations The company is registered as a bank holding company with the Board of Governors of the Federal Reserve System under the Bank Holding Company Act of 1956, as amended. The company is supervised by the Board of Governors of the Federal Reserve System (FRB) and is required to file reports with the FRB and provide such additional information as the FRB might require. The bank is subject to the supervision of, and to regular examination by, the Office of the Comptroller of the Currency of the United States. The bank’s authority to extend credit to its directors, executive officers and 10 percent shareholders, as well as to entities controlled by such persons, is governed by the requirements of the National Bank Act, Sarbanes-Oxley Act and Regulation O of the FRB thereunder. History Valley National Bancorp was founded in 1927.

 

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Industry Analysis

VLY

Industry Average

Valuation VLY Industry Range
Price/Earnings 15.2x
Price/Sales 3.6x
Price/Book 1.3x
Price/Cash Flow 17.5x
TEV/Sales NM Not Meaningful
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