Valley National Bancorp (NASDAQ:VLY) PT Raised to $9.00 at Morgan Stanley

Valley National Bancorp (NASDAQ:VLYGet Free Report) had its price objective hoisted by research analysts at Morgan Stanley from $8.50 to $9.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 9.16% from the stock’s previous close.

Several other research firms also recently issued reports on VLY. JPMorgan Chase & Co. downgraded Valley National Bancorp from an “overweight” rating to a “neutral” rating and cut their target price for the company from $11.00 to $10.00 in a research report on Monday, October 30th. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 20th. TheStreet raised Valley National Bancorp from a “c+” rating to a “b-” rating in a research report on Thursday, December 14th. Keefe, Bruyette & Woods cut their price target on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Finally, Wedbush cut their price target on Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.33.

View Our Latest Stock Report on VLY

Valley National Bancorp Stock Performance

Shares of VLY opened at $8.25 on Wednesday. Valley National Bancorp has a 12 month low of $6.39 and a 12 month high of $12.45. The stock has a fifty day moving average price of $10.23 and a 200-day moving average price of $9.30. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.19 billion, a PE ratio of 8.68 and a beta of 1.14.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last released its 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 firm had revenue of $449.97 million during the quarter, compared to analyst estimates of $467.49 million. During the same period in the previous year, the company earned $0.35 earnings per share. Equities research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Insider Activity

In other Valley National Bancorp news, EVP Joseph Chillura sold 100,000 shares of Valley National Bancorp stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $8.64, for a total transaction of $864,000.00. Following the sale, the executive vice president now owns 591,235 shares of the company’s stock, valued at approximately $5,108,270.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.71% of the company’s stock.

Institutional Trading of Valley National Bancorp

Several large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new position in Valley National Bancorp in the 1st quarter valued at about $276,000. HighTower Advisors LLC boosted its holdings in Valley National Bancorp by 179.4% in the 1st quarter. HighTower Advisors LLC now owns 34,453 shares of the company’s stock valued at $450,000 after purchasing an additional 22,120 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Valley National Bancorp by 29.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 37,654 shares of the company’s stock worth $490,000 after acquiring an additional 8,514 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Valley National Bancorp by 16.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 35,562 shares of the company’s stock worth $463,000 after acquiring an additional 4,951 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new position in shares of Valley National Bancorp in the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 60.98% of the company’s stock.

Valley National Bancorp Company Profile

(Get Free Report)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

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Analyst Recommendations for Valley National Bancorp (NASDAQ:VLY)

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