Valley National Bancorp (NASDAQ:VLY) Stock Rating Reaffirmed by Wedbush

Valley National Bancorp (NASDAQ:VLY - Get Free Report)'s stock had its "neutral" rating reaffirmed by Wedbush in a report issued on Friday, Benzinga reports. They presently have a $10.00 price objective on the stock. Wedbush's price target would suggest a potential upside of 7.87% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their target price on Valley National Bancorp from $8.00 to $8.50 and gave the stock a "market perform" rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. StockNews.com lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, August 14th. Morgan Stanley upped their price objective on Valley National Bancorp from $9.50 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada raised their target price on Valley National Bancorp from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.63.

Valley National Bancorp Stock Down 3.4 %

VLY traded down $0.33 during midday trading on Friday, reaching $9.27. 5,704,569 shares of the company were exchanged, compared to its average volume of 5,852,893. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 13.11 and a beta of 1.08. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22. The company's fifty day moving average price is $8.76 and its 200 day moving average price is $7.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. During the same period in the previous year, the firm earned $0.26 EPS. As a group, analysts expect that Valley National Bancorp will post 0.7 EPS for the current year.

Hedge Funds Weigh In On Valley National Bancorp

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in shares of Valley National Bancorp by 378.4% during the 1st quarter. BNP Paribas Financial Markets now owns 612,314 shares of the company's stock valued at $4,874,000 after purchasing an additional 484,332 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Valley National Bancorp during the first quarter worth approximately $1,021,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Valley National Bancorp by 74.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 248,318 shares of the company's stock worth $1,977,000 after acquiring an additional 106,290 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of Valley National Bancorp by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 104,781 shares of the company's stock valued at $834,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Cornerstone Wealth Group LLC bought a new position in shares of Valley National Bancorp during the 1st quarter valued at $504,000. Institutional investors own 61.00% of the company's stock.

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.