Valley National Bancorp (NASDAQ:VLY) Receives $10.00 Average PT from Brokerages

Valley National Bancorp (NASDAQ:VLYGet Free Report) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $10.00.

Several equities research analysts have recently issued reports on VLY shares. Wedbush decreased their price target 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. Morgan Stanley raised their price objective on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th. Barclays assumed coverage on shares of Valley National Bancorp in a report on Friday, March 8th. They issued an “underweight” rating and a $8.00 price objective for the company. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, Citigroup cut their price objective on shares of Valley National Bancorp from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, March 13th.

Get Our Latest Analysis on Valley National Bancorp

Valley National Bancorp Trading Down 3.2 %

NASDAQ:VLY opened at $7.79 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 8.20 and a beta of 1.09. Valley National Bancorp has a 52 week low of $6.39 and a 52 week high of $11.22. The firm has a 50-day moving average price of $8.73 and a two-hundred day moving average price of $8.99.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last issued 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 return on equity of 8.67% and a net margin of 14.82%. The company had revenue of $449.97 million for the quarter, compared to analysts’ expectations of $467.49 million. During the same quarter in the previous year, the business earned $0.35 EPS. On average, equities analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.65%. The ex-dividend date is Wednesday, March 13th. Valley National Bancorp’s payout ratio is 46.32%.

Insider Transactions at Valley National Bancorp

In other news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the completion of the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.71% of the stock is currently owned by insiders.

Institutional Trading of Valley National Bancorp

A number of hedge funds have recently made changes to their positions in VLY. Quarry LP raised its position in Valley National Bancorp by 198.1% in the 1st quarter. Quarry LP now owns 3,070 shares of the company’s stock worth $28,000 after purchasing an additional 2,040 shares during the period. GAMMA Investing LLC purchased a new position in Valley National Bancorp in the 4th quarter worth $35,000. Wolverine Asset Management LLC purchased a new position in Valley National Bancorp in the 4th quarter worth $40,000. Advisors Asset Management Inc. raised its position in Valley National Bancorp by 46.3% in the 4th quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock worth $58,000 after purchasing an additional 1,631 shares during the period. Finally, Covestor Ltd raised its position in Valley National Bancorp by 73.0% in the 1st quarter. Covestor Ltd now owns 6,213 shares of the company’s stock worth $81,000 after purchasing an additional 2,622 shares during the period. 60.98% of the stock is owned by institutional investors.

Valley National Bancorp Company Profile

(Get Free Report

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.

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Analyst Recommendations for Valley National Bancorp (NASDAQ:VLY)

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