Valley National Bancorp (NASDAQ:VLY) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Valley National Bancorp (NASDAQ:VLY - Free Report) from a neutral rating to an overweight rating in a research note published on Monday morning, MarketBeat.com reports. Piper Sandler currently has $11.00 price objective on the stock.

A number of other equities analysts also recently commented on the stock. Stephens restated an "overweight" rating and issued a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Barclays upped their price target 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. JPMorgan Chase & Co. raised their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Royal Bank of Canada upped their target price on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Finally, Citigroup increased their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Valley National Bancorp presently has an average rating of "Hold" and a consensus target price of $10.78.

Remove Ads

Valley National Bancorp Price Performance

VLY stock traded down $0.18 during trading on Monday, hitting $8.81. 1,478,414 shares of the company's stock traded hands, compared to its average volume of 6,411,066. The business has a fifty day simple moving average of $9.58 and a 200 day simple moving average of $9.50. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 12.76 and a beta of 1.11.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings data 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 10.62% and a return on equity of 5.14%. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.00%. The ex-dividend date is Friday, March 14th. Valley National Bancorp's dividend payout ratio is currently 63.77%.

Insiders Place Their Bets

In other news, EVP Joseph Chillura sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total transaction of $510,500.00. Following the transaction, the executive vice president now directly owns 495,249 shares in the company, valued at $5,056,492.29. The trade was a 9.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Valley National Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Valley National Bancorp in the 4th quarter worth $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Valley National Bancorp in the 4th quarter valued at approximately $39,000. Optiver Holding B.V. increased its stake in Valley National Bancorp by 80.9% during the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock worth $46,000 after acquiring an additional 2,271 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Valley National Bancorp in the fourth quarter valued at $102,000. Finally, Sapient Capital LLC acquired a new position in shares of Valley National Bancorp in the 4th quarter valued at $103,000. Hedge funds and other 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.