Valley National Bancorp (NASDAQ:VLY) PT Raised to $10.00

Valley National Bancorp (NASDAQ:VLY - Free Report) had its price objective boosted by Wedbush from $9.00 to $10.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Wedbush currently has a neutral rating on the stock.

VLY has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their target price on Valley National Bancorp from $8.50 to $8.00 and set a neutral rating on the stock in a report on Thursday, June 27th. StockNews.com cut shares of Valley National Bancorp from a hold rating to a sell rating in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods increased their price target on Valley National Bancorp from $8.00 to $8.50 and gave the company a market perform rating in a report on Friday, July 26th. Morgan Stanley upgraded Valley National Bancorp from an underweight rating to an equal weight rating and lifted their price objective for the stock from $8.00 to $9.50 in a research note on Monday, August 5th. Finally, Barclays decreased their price target on shares of Valley National Bancorp from $8.00 to $7.00 and set an underweight rating on the stock in a research report on Monday, June 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of Hold and an average price target of $8.56.

Valley National Bancorp Trading Down 2.3 %

VLY traded down $0.21 on Tuesday, reaching $8.83. 4,633,056 shares of the company's stock were exchanged, compared to its average volume of 5,984,319. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22. The company's 50 day moving average is $8.29 and its 200-day moving average is $7.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 10.48 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.07). The company had revenue of $884.68 million during the quarter, compared to analysts' expectations of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same quarter in the prior year, the company earned $0.28 EPS. Equities analysts predict that Valley National Bancorp will post 0.7 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.98%. Valley National Bancorp's dividend payout ratio is currently 51.76%.

Institutional Trading of Valley National Bancorp

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Valley National Bancorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 45,625,380 shares of the company's stock worth $495,492,000 after buying an additional 198,236 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Valley National Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company's stock valued at $179,537,000 after purchasing an additional 337,416 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Valley National Bancorp by 193.2% during the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company's stock worth $69,233,000 after purchasing an additional 6,703,552 shares during the last quarter. Norges Bank purchased a new position in Valley National Bancorp during the fourth quarter worth about $49,734,000. Finally, Goldman Sachs Group Inc. increased its stake in Valley National Bancorp by 6.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,814,048 shares of the company's stock valued at $30,561,000 after buying an additional 160,854 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

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.