Valley National Bancorp (NASDAQ:VLY) Stock Has Consensus Price Target of $16.71 According to Analysts

Valley National Bancorp (NASDAQ:VLY) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.71.

VLY has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Valley National Bancorp from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Barclays raised their target price on shares of Valley National Bancorp from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. National Bank Financial set a $18.50 price target on shares of Valley National Bancorp in a research report on Monday. UBS Group boosted their price target on Valley National Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on Valley National Bancorp from $15.50 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd.

Institutional Trading of Valley National Bancorp

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Valley National Bancorp during the second quarter worth about $1,079,026,000. Wellington Management Group LLP increased its holdings in Valley National Bancorp by 29.5% in the 2nd quarter. Wellington Management Group LLP now owns 20,091,604 shares of the company’s stock valued at $294,342,000 after buying an additional 4,576,448 shares during the period. Azora Capital LP bought a new position in Valley National Bancorp in the 2nd quarter valued at about $150,121,000. Freestone Grove Partners LP acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at approximately $88,872,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at approximately $68,276,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Stock Down 1.0%

VLY stock opened at $14.14 on Wednesday. Valley National Bancorp has a fifty-two week low of $10.34 and a fifty-two week high of $15.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 11.22 and a beta of 1.07. The business’s fifty day moving average price is $13.38 and its two-hundred day moving average price is $13.44.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, October 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Valley National Bancorp had a net margin of 20.44% and a return on equity of 9.63%. The company had revenue of $581.10 million during the quarter, compared to analysts’ expectations of $577.82 million. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities analysts anticipate that Valley National Bancorp will post 1.29 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, December 15th. Valley National Bancorp’s dividend payout ratio is presently 34.92%.

Valley National Bancorp Company Profile

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional bank headquartered in Wayne, New Jersey. The company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities through a network of branches and digital banking channels.

Valley National Bank offers deposit accounts, residential and commercial real estate lending, business loans, consumer loans, mortgage banking, treasury management and other commercial banking services.