Valley National Bancorp's (VLY) Overweight Rating Reaffirmed at Stephens

Stephens restated their overweight rating on shares of Valley National Bancorp (NASDAQ:VLY - Free Report) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $12.50 target price on the stock.

Several other research firms have also issued reports on VLY. Morgan Stanley lifted their price target on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Wedbush restated a "neutral" rating and issued a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. Barclays upped their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. JPMorgan Chase & Co. raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $10.50 to $11.00 in a research note on Monday, November 11th. Finally, Piper Sandler upped their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Valley National Bancorp currently has an average rating of "Hold" and a consensus price target of $10.44.

Valley National Bancorp Price Performance

Shares of VLY stock traded down $0.13 during mid-day trading on Thursday, hitting $8.93. 6,947,544 shares of the stock traded hands, compared to its average volume of 6,149,155. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. The company's 50-day simple moving average is $9.93 and its 200-day simple moving average is $8.76. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 14.40 and a beta of 1.09.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The firm had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, equities research analysts expect that Valley National Bancorp will post 0.65 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Friday, December 13th. Valley National Bancorp's dividend payout ratio (DPR) is currently 70.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Valley National Bancorp during the 3rd quarter valued at about $515,000. Intech Investment Management LLC raised its holdings 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 in the last quarter. HighTower Advisors LLC lifted 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 buying an additional 1,806 shares during the last quarter. Stifel Financial Corp increased its holdings 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 acquiring an additional 86,473 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company's stock valued at $51,431,000 after acquiring an additional 5,322,278 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

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.