Last $10.33 USD
Change Today -0.47 / -4.35%
Volume 3.3M
VLY On Other Exchanges
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As of 4:15 PM 04/24/14 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 holding company for Valley National Bank that provides a range of commercial, retail, and wealth management financial services products. The bank has 210 branches in 146 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 bank provides various 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 bank 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. The bank’s wholly-owned subsidiaries include an all-line insurance agency offering property and casualty, life and health insurance; asset management advisors, which are Securities and Exchange Commission registered investment advisors; title insurance agencies in both New Jersey and New York; subsidiaries, which hold, maintain, and manage investment assets for the bank; a subsidiary, which owns and services auto loans; a subsidiary, which owns and services general aviation aircraft loans and existing commercial equipment leases; a subsidiary, which engages in health care equipment and other commercial equipment leases; and a subsidiary, which owns and services New York commercial loans and engages in asset-based lending. The bank’s subsidiaries also include real estate investment trust subsidiaries (the ‘REIT’ subsidiaries), which own real estate related investments and a REIT subsidiary, which owns some of the real estate utilized by the bank and related real estate investments. Segments The company’s segments include 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). The bank is also a servicer of residential mortgage portfolios, and it is compensated for loan administrative services performed for mortgage servicing rights purchased in the secondary market and loans originated and sold by the bank. 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

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Industry Analysis

VLY

Industry Average

Valuation VLY Industry Range
Price/Earnings 16.3x
Price/Sales 3.8x
Price/Book 1.4x
Price/Cash Flow 16.4x
TEV/Sales NM Not Meaningful
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