Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $11.00

Valley National Bancorp (NASDAQ:VLY) had its price objective increased by Citigroup from $10.00 to $11.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Royal Bank of Canada lifted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Barclays lifted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Stephens restated an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.67.

Valley National Bancorp Stock Down 0.6 %

VLY stock opened at $10.14 on Monday. The firm’s 50-day moving average is $9.75 and its two-hundred day moving average is $9.12. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 16.35 and a beta of 1.12. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period last year, the firm earned $0.22 EPS. On average, analysts forecast that Valley National Bancorp will post 0.64 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.34%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s payout ratio is 70.97%.

Institutional Trading of Valley National Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its position in Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after purchasing an additional 1,371 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Valley National Bancorp by 11.8% during the 3rd quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after buying an additional 1,521 shares during the period. Blue Trust Inc. boosted its stake in Valley National Bancorp by 48.2% in the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after buying an additional 1,564 shares in the last quarter. HighTower Advisors LLC raised its stake in Valley National Bancorp by 6.0% during the third quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock worth $291,000 after acquiring an additional 1,806 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after acquiring an additional 2,151 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.