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

Valley National Bancorp (NASDAQ:VLY - Get Free Report) has received a consensus rating of "Hold" from the eight research firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.88.

A number of brokerages recently issued reports on VLY. Barclays raised shares of Valley National Bancorp from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $9.00 to $10.00 in a research report on Thursday, October 31st. Wedbush reissued a "neutral" rating and set a $10.00 price target on shares of Valley National Bancorp in a research report on Friday, October 25th. StockNews.com downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $10.50 to $11.00 in a research note on Monday, November 11th. Finally, Piper Sandler lifted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, October 25th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VLY. Diversified Trust Co boosted its holdings in Valley National Bancorp by 11.1% in the 2nd quarter. Diversified Trust Co now owns 14,317 shares of the company's stock worth $100,000 after buying an additional 1,435 shares during the period. Townsquare Capital LLC boosted its stake in shares of Valley National Bancorp by 11.8% in the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company's stock worth $130,000 after acquiring an additional 1,521 shares during the period. Blue Trust Inc. grew its position in shares of Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock worth $44,000 after purchasing an additional 1,564 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Valley National Bancorp by 6.0% in the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company's stock worth $291,000 after purchasing an additional 1,806 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company's stock worth $62,000 after purchasing an additional 2,151 shares during the period. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Trading Down 0.1 %

NASDAQ VLY traded down $0.01 on Wednesday, hitting $10.68. The company's stock had a trading volume of 4,756,840 shares, compared to its average volume of 6,181,193. The firm has a market cap of $5.44 billion, a P/E ratio of 17.23 and a beta of 1.07. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The company's 50-day simple moving average is $9.51 and its 200 day simple moving average is $8.30. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The firm had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same quarter in the previous year, the firm posted $0.26 EPS. Research analysts predict that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 annualized dividend and a yield of 4.12%. Valley National Bancorp's payout ratio is presently 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.