Brokerages Set Valley National Bancorp (NASDAQ:VLY) PT at $10.67

Shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) have received an average rating of "Hold" from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.67.

Several research firms have recently issued reports on VLY. Stephens reissued an "overweight" rating and issued a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Barclays raised their target price on 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. StockNews.com downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. Citigroup raised their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research note on Friday, January 24th.

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Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 50,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the sale, the executive vice president now directly owns 495,249 shares in the company, valued at approximately $5,056,492.29. This trade represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.88% of the company's stock.

Institutional Trading of Valley National Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Valley National Bancorp in the 3rd quarter valued at $25,000. R Squared Ltd bought a new stake in Valley National Bancorp during the 4th quarter worth approximately $25,000. Point72 Hong Kong Ltd acquired a new stake in Valley National Bancorp during the 4th quarter worth approximately $39,000. Optiver Holding B.V. lifted its stake in Valley National Bancorp by 80.9% in the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock valued at $46,000 after buying an additional 2,271 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Valley National Bancorp by 557.0% in the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company's stock valued at $79,000 after buying an additional 7,358 shares during the period. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Trading Down 3.5 %

Shares of NASDAQ VLY traded down $0.31 on Friday, reaching $8.67. 8,871,571 shares of the company traded hands, compared to its average volume of 8,691,252. The company has a 50 day moving average of $9.63 and a 200 day moving average of $9.48. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.86 billion, a PE ratio of 12.57 and a beta of 1.11.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period last year, the business posted $0.22 EPS. On average, equities research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 5.07%. Valley National Bancorp's dividend payout ratio (DPR) is currently 63.77%.

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.