Valley National Bancorp (NASDAQ:VLY) Receives $9.67 Average Target Price from Analysts

Shares of Valley National Bancorp (NASDAQ:VLY) have been given a consensus rating of “Hold” by the ten brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $9.67.

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. Royal Bank of Canada cut their price objective on shares of Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. Wedbush cut their price objective on shares of Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. Finally, Barclays initiated coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They issued an “underweight” rating and a $8.00 price objective for the company.

Insider Activity at Valley National Bancorp

In other news, EVP Joseph Chillura sold 49,715 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the sale, the executive vice president now owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Valley National Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in shares of Valley National Bancorp by 5.9% in the third quarter. Public Employees Retirement System of Ohio now owns 14,630 shares of the company’s stock worth $158,000 after buying an additional 818 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Valley National Bancorp by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 111,227 shares of the company’s stock worth $1,201,000 after acquiring an additional 978 shares during the period. Bank of Montreal Can raised its stake in Valley National Bancorp by 2.1% during the 1st quarter. Bank of Montreal Can now owns 47,828 shares of the company’s stock worth $630,000 after acquiring an additional 989 shares during the period. Metropolitan Life Insurance Co NY raised its stake in Valley National Bancorp by 3.8% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 26,971 shares of the company’s stock worth $305,000 after acquiring an additional 996 shares during the period. Finally, Cerity Partners LLC raised its stake in Valley National Bancorp by 0.7% during the 4th quarter. Cerity Partners LLC now owns 144,288 shares of the company’s stock worth $1,632,000 after acquiring an additional 1,063 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $7.31 on Tuesday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. Valley National Bancorp has a 52 week low of $6.39 and a 52 week high of $11.22. The firm’s 50-day simple moving average is $7.91 and its two-hundred day simple moving average is $8.83.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). Valley National Bancorp had a net margin of 14.82% and a return on equity of 8.67%. The business had revenue of $449.97 million during the quarter, compared to the consensus estimate of $467.49 million. During the same period last year, the firm earned $0.35 EPS. As a group, equities analysts forecast that Valley National Bancorp will post 0.93 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 46.32%.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.