Valley National Bancorp (NASDAQ:VLY) PT Lowered to $8.00 at Wedbush

Valley National Bancorp (NASDAQ:VLY) had its target price decreased by Wedbush from $9.00 to $8.00 in a report published on Friday, Benzinga reports. Wedbush currently has a neutral rating on the stock. Wedbush also issued estimates for Valley National Bancorp’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.29 EPS and FY2025 earnings at $1.15 EPS.

A number of other analysts also recently issued reports on the stock. Citigroup cut their price target 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. Morgan Stanley lifted their target price on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an underweight rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods dropped their target price on shares of Valley National Bancorp from $13.00 to $12.00 and set an outperform rating for the company in a report on Friday, January 26th. JPMorgan Chase & Co. dropped their target price on shares of Valley National Bancorp from $12.00 to $9.00 and set a neutral rating for the company in a report on Thursday, April 4th. Finally, StockNews.com downgraded shares of Valley National Bancorp from a hold rating to a sell rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Valley National Bancorp has a consensus rating of Hold and a consensus price target of $9.33.

Valley National Bancorp Stock Down 5.8 %

Shares of NASDAQ VLY opened at $7.32 on Friday. The company has a 50 day simple moving average of $7.81 and a 200-day simple moving average of $8.82. The company has a market capitalization of $3.73 billion, a P/E ratio of 8.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 0.99. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a return on equity of 7.74% and a net margin of 12.88%. During the same quarter in the prior year, the business earned $0.30 EPS. On average, equities research analysts predict that Valley National Bancorp will post 0.9 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 annualized dividend and a dividend yield of 6.01%. Valley National Bancorp’s dividend payout ratio (DPR) is 51.76%.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the transaction, the executive vice president now owns 545,249 shares in the company, valued at $4,460,136.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Valley National Bancorp

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth $35,000. Wolverine Asset Management LLC purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth $40,000. Simplicity Wealth LLC purchased a new stake in shares of Valley National Bancorp during the 1st quarter worth $92,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Valley National Bancorp during the 3rd quarter worth $93,000. Finally, Jump Financial LLC purchased a new stake in shares of Valley National Bancorp during the 3rd quarter worth $93,000. 61.00% of the stock is owned by hedge funds and other institutional investors.

About Valley National Bancorp

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.