Valley National Bancorp (NASDAQ:VLY) Rating Increased to Overweight at Piper Sandler

Valley National Bancorp (NASDAQ:VLY) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday,Benzinga reports. The firm presently has a $11.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 24.29% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Barclays upped their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $12.50 price objective on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Citigroup raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp currently has an average rating of “Hold” and a consensus target price of $10.78.

Valley National Bancorp Price Performance

VLY stock opened at $8.85 on Monday. The company has a market capitalization of $4.96 billion, a P/E ratio of 12.83 and a beta of 1.11. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The business has a 50 day simple moving average of $9.59 and a 200-day simple moving average of $9.49. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same period in the previous year, the firm posted $0.22 EPS. As a group, equities analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the completion of the transaction, the executive vice president now owns 495,249 shares in the company, valued at $5,056,492.29. The trade was a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.88% of the company’s stock.

Institutional Trading of Valley National Bancorp

Several hedge funds have recently added to or reduced their stakes in VLY. R Squared Ltd bought a new stake in Valley National Bancorp during the 4th quarter valued at $25,000. Point72 Hong Kong Ltd bought a new stake in Valley National Bancorp during the 4th quarter valued at $39,000. Optiver Holding B.V. raised its stake in Valley National Bancorp by 80.9% during the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after acquiring an additional 2,271 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in Valley National Bancorp during the 4th quarter valued at $102,000. Finally, Sapient Capital LLC bought a new stake in Valley National Bancorp during the 4th quarter valued at $103,000. Institutional investors own 61.00% of the company’s stock.

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.