Best Income Stocks to Buy for March 24th
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 24 2025
0mins
Source: NASDAQ.COM
Top Stock Recommendations: Three stocks with strong income characteristics and a buy rank are highlighted: Valley National Bancorp (VLY) with a 5% dividend yield, NN Group N.V. (NNGRY) with a 4.1% yield, and Heritage Financial Corporation (HFWA) with a 4% yield, all showing positive earnings estimates.
Investment Insights: Zacks Investment Research suggests that these companies have seen significant increases in their earnings estimates over the past 60 days, making them attractive options for investors seeking dividends and growth potential.
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Analyst Views on VLY
Wall Street analysts forecast VLY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for VLY is 14.00 USD with a low forecast of 12.00 USD and a high forecast of 15.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 12.270
Low
12.00
Averages
14.00
High
15.00
Current: 12.270
Low
12.00
Averages
14.00
High
15.00
About VLY
Valley National Bancorp is a bank holding company and a financial holding company. The Company’s principal subsidiary is Valley National Bank. Its segments include Consumer Banking, Commercial Banking and Treasury and Corporate Other. The Consumer Banking comprises residential mortgages and automobile loans, and to a lesser extent, secured personal lines of credit, home equity loans and other consumer loans. Consumer Banking also includes the wealth management and insurance services division, comprised of asset management advisory, brokerage, trust, personal and title insurance, tax credit advisory services, and international and domestic private banking businesses. The Commercial Banking comprises floating rate and adjustable rate commercial and industrial loans and construction loans, and adjustable and fixed-rate owner-occupied and commercial real estate loans. It also offers niche financial services, including loan and deposit products for homeowners’ associations and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Valley National Bancorp to Announce Q4 Earnings on January 29
- Earnings Announcement: Valley National Bancorp (VLY) is set to release its Q4 2023 earnings report on January 29 before market open, with consensus EPS estimate at $0.29, reflecting a significant year-over-year increase of 123.1%, indicating a strong recovery in profitability.
- Revenue Expectations: The revenue for the quarter is projected at $525.67 million, representing a year-over-year growth of 10.9%, which highlights the company's robust growth and effective revenue diversification strategies in the market.
- Historical Performance Review: Over the past two years, VLY has exceeded EPS estimates 38% of the time and revenue estimates 63% of the time, demonstrating the company's stability in profitability and revenue growth.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen 7 upward revisions and 1 downward revision, while revenue estimates have experienced 5 upward and 4 downward revisions, reflecting analysts' confidence in the company's future performance and fluctuations in market expectations.
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Valley National Bancorp Q4 Earnings Exceed Expectations
- Earnings Beat: Valley National Bancorp reported a Q4 non-GAAP EPS of $0.31, surpassing expectations by $0.02, indicating stable profitability and growth potential for the company.
- Significant Revenue Growth: The bank's Q4 revenue reached $541.2 million, marking a 14.1% year-over-year increase, which not only exceeded expectations by $15.53 million but also reflects its competitive position and business expansion capabilities.
- Market Performance Monitoring: Despite underperformance, analysts maintain a neutral outlook on Valley National Bancorp's future prospects, suggesting ongoing confidence in its long-term strategic direction.
- Attractive Income Play: The company's reset preferred shares yielding 8% are viewed as a great income investment option, appealing to investors seeking stable cash flow and enhancing its attractiveness in the income investment space.
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