Valley National Bancorp (NASDAQ:VLY) Receives $10.39 Average PT from Analysts

Shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) have been given an average rating of "Hold" by the nine ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $10.39.

Several equities research analysts have weighed in on the company. Barclays raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Wedbush reaffirmed a "neutral" rating and issued a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. Citigroup lowered their price objective on shares of Valley National Bancorp from $10.50 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, December 31st. Morgan Stanley upped their target price on Valley National Bancorp from $9.50 to $10.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Finally, StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kestra Investment Management LLC acquired a new stake in shares of Valley National Bancorp during the 3rd quarter worth approximately $515,000. Intech Investment Management LLC grew its position in Valley National Bancorp by 332.7% during the third quarter. Intech Investment Management LLC now owns 163,478 shares of the company's stock valued at $1,481,000 after buying an additional 125,695 shares during the period. JPMorgan Chase & Co. increased its holdings in Valley National Bancorp by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company's stock valued at $13,539,000 after buying an additional 439,831 shares in the last quarter. Stifel Financial Corp raised its position in shares of Valley National Bancorp by 66.1% in the third quarter. Stifel Financial Corp now owns 217,312 shares of the company's stock worth $1,969,000 after acquiring an additional 86,473 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Valley National Bancorp by 6.0% in 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 during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Valley National Bancorp Stock Down 1.5 %

Shares of NASDAQ VLY traded down $0.14 during mid-day trading on Thursday, reaching $9.41. 7,864,721 shares of the company were exchanged, compared to its average volume of 8,231,152. The firm has a 50-day moving average of $9.80 and a 200 day moving average of $8.92. Valley National Bancorp has a 1 year low of $6.47 and a 1 year 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 stock has a market cap of $4.79 billion, a price-to-earnings ratio of 15.18 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $921.22 million for the quarter, compared to analysts' expectations of $467.87 million. 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 business earned $0.26 EPS. On average, research analysts expect that Valley National Bancorp will post 0.64 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.68%. Valley National Bancorp's payout ratio is 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.