Valley National Bancorp (NASDAQ:VLY) Receives Consensus Rating of “Hold” from Analysts

Shares of Valley National Bancorp (NASDAQ:VLY) have earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.00.

A number of brokerages have recently issued reports on VLY. Wedbush restated a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research note on Friday, October 25th. Piper Sandler raised their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.50 to $11.00 in a report on Monday, November 11th. Royal Bank of Canada increased their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Barclays boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th.

Hedge Funds Weigh In On Valley National Bancorp

A number of institutional investors have recently modified their holdings of VLY. Raymond James & Associates increased its stake in shares of Valley National Bancorp by 1.2% in the 2nd quarter. Raymond James & Associates now owns 256,797 shares of the company’s stock valued at $1,792,000 after buying an additional 3,035 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Valley National Bancorp in the second quarter worth about $94,000. Innealta Capital LLC bought a new stake in Valley National Bancorp during the 2nd quarter worth about $38,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Valley National Bancorp during the 2nd quarter valued at about $509,000. Finally, WBI Investments LLC lifted its position in Valley National Bancorp by 122.5% during the 2nd quarter. WBI Investments LLC now owns 74,471 shares of the company’s stock valued at $520,000 after purchasing an additional 41,003 shares during the period. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Stock Down 1.4 %

VLY stock opened at $9.12 on Friday. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The company has a market cap of $4.65 billion, a PE ratio of 14.71 and a beta of 1.09. The business’s 50-day simple moving average is $9.92 and its 200 day simple moving average is $8.71.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same quarter last year, the firm earned $0.26 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.65 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s payout ratio is presently 70.97%.

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.