Valley National: 2Q Earnings Snapshot

WAYNE, N.J. (AP) _ Valley National Bancorp (VLY) on Thursday reported second-quarter profit of $76.5 million.

The Wayne, New Jersey-based bank said it had earnings of 22 cents per share. Earnings, adjusted for non-recurring costs, were 23 cents per share.

The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 23 cents per share.

The holding company for Valley National Bank posted revenue of $355.3 million in the period. Its revenue net of interest expense was $247.8 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $256.7 million.

Valley National shares have increased 24% since the beginning of the year. The stock has dropped 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VLY at https://www.zacks.com/ap/VLY