What does investment management — goodwill mean?

Represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations specifically allocated to the Investment Management segment. This asset reflects the premium paid for expected future economic benefits, such as brand reputation, customer relationships, and synergies within the investment services unit.

Valley National Bank VLY Investment Management — Goodwill

Discontinued — last reported Q1 '22

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Other financials

Income statement

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Revenue$540.4M+13.0%

Net income$163.9M+54.6%

EPS (diluted)$0.28+55.6%

Balance sheet

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Cash & equivalents$1.2B-5.3%

Total debt$63.9M+8.2%

Total equity$7.8B+4.4%

Total assets$64.5B+4.2%

Cash flow

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Operating cash flow$209.6M+1,324%

CapEx$1.4M-54.1%

Free cash flow$208.2M+1,132%

Valuation

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Market cap$7.81B+36.9%

Enterprise value$6.71B+50.0%

P/E11.9×-2.7×

P/S3.7×+0.7×

Profitability

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Net margin31.4%+10.6pp

FCF margin26.5%—

Returns & leverage

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Return on equity8.6%+3.1pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Valley National Bank in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The official record: Valley National Bank’s 10-Q, filed May 9, 2022, on SEC EDGAR. View the filing →

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Questions, answered.

What is Valley National Bank's investment management — goodwill?: Valley National Bank (VLY) reported investment management — goodwill of $220.46M in Q1 2022.
What does investment management — goodwill mean?: Represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations specifically allocated to the Investment Management segment. This asset reflects the premium paid for expected future economic benefits, such as brand reputation, customer relationships, and synergies within the investment services unit.