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Company Description

Contact Info

1455 Valley Road

Wayne, NJ 07470

United States

Phone: 973-305-8800


Valley National Bancorp operates as the bank holding company for the Valley National Bank that provides a range of commercial, retail, insurance and wealth management financial services products. The company conducts its business at 227 retail banking centers locations throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and southeast and central Florida. The company 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. It 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. In addition, the company operates an all-line insurance agency that offers property and casualty, life and health insurance; and title insurance agencies in New Jersey, New York and Florida, as well as provides asset management advisory services. The company’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 company 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 and commercial real estate loans. Commercial and Industrial Loans: The company makes commercial loans to small and middle market businesses most often located in the New Jersey and New York area, as well as Florida. Commercial loan products offered consist of term loans for equipment purchases, working capital lines of credit that assist the company’s customers’ financing of accounts receivable and inventory, and commercial mortgages for owner occupied properties. Short-term commercial business loans might be collateralized by a lien on accounts receivable, inventory, equipment and/or partly collateralized by real estate. Short-term loans might also be made on an unsecured basis based on a borrower’s financial strength and past performance. In addition, through its subsidiaries, the company provides financing to the medical equipment leasing market and engages in asset-based accounts receivable and inventory financing. The commercial portfolio also includes taxi medallion, majority of which consist of loans to fleet owners of New York City medallions. Commercial Real Estate Loans: The company originates commercial real estate loans that are largely secured by multi-unit residential property and non-owner occupied commercial, industrial, and retail property within New Jersey, New York, Pennsylvania and Florida. With respect to loans to developers and builders, the company 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 and other consumer loans. It also includes Wealth Management division. Residential Mortgage Loans: The company offers a range of residential mortgage loans for the purpose of purchasing or refinancing one-to-four family residential properties. Its residential mortgage loans include fixed and variable interest rate loans generally located in counties where it has a branch presence in New Jersey, New York and Florida, as well as contiguous counties, if applicable, including eastern Pennsylvania. The company occasionally makes mortgage loans secured by homes beyond this primary geographic area; however, lending outside this primary area is generally made in support of existing customer relationships. The company is also a servicer of residential mortgage portfolios, and it is compensated for loan administrative services performed for mortgage servicing rights purchased in the seconda

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Valuation VLY Industry Range
Price/Earnings 20.9x
Price/Sales 3.7x
Price/Book 1.1x
Price/Cash Flow 20.2x
TEV/Sales NM Not Meaningful

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