Valley National Bancorp (NASDAQ:VLY) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) have earned an average rating of "Hold" from the nine ratings firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $10.67.

Several equities analysts have commented on VLY shares. Piper Sandler raised their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Barclays lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. StockNews.com lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted 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. Finally, Citigroup lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp 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 transaction of $510,500.00. Following the completion of the transaction, the executive vice president now owns 495,249 shares of the company's stock, 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 can be accessed through this link. Company insiders own 1.88% of the company's stock.

Hedge Funds Weigh In On Valley National Bancorp

Large investors have recently modified their holdings of the stock. Kestra Investment Management LLC purchased a new stake in shares of Valley National Bancorp during the 3rd quarter valued at about $515,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Valley National Bancorp by 17.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company's stock valued at $323,000 after purchasing an additional 5,181 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Valley National Bancorp by 332.7% during the 3rd quarter. Intech Investment Management LLC now owns 163,478 shares of the company's stock valued at $1,481,000 after purchasing an additional 125,695 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Valley National Bancorp by 41.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company's stock valued at $13,539,000 after purchasing an additional 439,831 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Valley National Bancorp by 66.1% during the 3rd quarter. Stifel Financial Corp now owns 217,312 shares of the company's stock valued at $1,969,000 after purchasing an additional 86,473 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY traded up $0.07 during mid-day trading on Monday, reaching $9.91. 8,314,424 shares of the company were exchanged, compared to its average volume of 9,119,380. The company's 50-day simple moving average is $9.67 and its 200-day simple moving average is $9.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $5.05 billion, a P/E ratio of 14.36 and a beta of 1.12. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10.

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 the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter last year, the firm posted $0.22 earnings per share. As a group, research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp's dividend payout ratio is 63.77%.

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.