Valley National Bancorp (NASDAQ:VLY) Given Average Rating of “Hold” by Analysts

Valley National Bancorp (NASDAQ:VLY) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $10.39.

Several research firms have recently commented on VLY. JPMorgan Chase & Co. decreased their price objective on Valley National Bancorp from $11.50 to $10.50 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada boosted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Citigroup lowered their price target on shares of Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, December 31st. Finally, Morgan Stanley raised 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 report on Monday, September 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in Valley National Bancorp during the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its stake 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 valued at $44,000 after purchasing an additional 1,564 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Valley National Bancorp by 416.8% during the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after purchasing an additional 5,001 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Valley National Bancorp by 557.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock worth $79,000 after buying an additional 7,358 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 1.9 %

Shares of NASDAQ VLY opened at $9.59 on Thursday. The stock has a market capitalization of $4.88 billion, a P/E ratio of 15.47 and a beta of 1.12. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The firm’s 50 day simple moving average is $9.78 and its two-hundred day simple moving average is $8.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same quarter last year, the firm earned $0.26 EPS. As a group, analysts expect that Valley National Bancorp will post 0.64 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp’s payout ratio is currently 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.