Valley National Bancorp (NASDAQ:VLY) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Valley National Bancorp (NASDAQ:VLY) from a sell rating to a hold rating in a report issued on Tuesday.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods upped their target price on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, July 26th. Morgan Stanley upped their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Wedbush restated a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 11th. Finally, Barclays upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $9.00 to $10.00 in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.88.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $10.19 on Tuesday. The firm has a market cap of $5.19 billion, a P/E ratio of 16.44 and a beta of 1.07. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The business’s 50-day moving average price is $9.20 and its 200 day moving average price is $8.13. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same period last year, the business posted $0.26 EPS. On average, equities research analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, September 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Diversified Trust Co raised its holdings in Valley National Bancorp by 11.1% in the second quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock valued at $100,000 after acquiring an additional 1,435 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Valley National Bancorp by 11.8% during the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after purchasing an additional 1,521 shares during the last quarter. Blue Trust Inc. grew its stake in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after purchasing an additional 1,564 shares in the last quarter. HighTower Advisors LLC increased its holdings in Valley National Bancorp by 6.0% in the third quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock valued at $291,000 after buying an additional 1,806 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after buying an additional 2,151 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.