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

Valley National Bancorp (NASDAQ:VLY) has received a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $8.67.

A number of research analysts have commented on the company. Barclays decreased their price objective on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $8.00 target price (down from $12.00) on shares of Valley National Bancorp in a report on Friday, May 31st. Royal Bank of Canada reduced their target price on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Valley National Bancorp in a report on Wednesday, May 22nd. Finally, StockNews.com raised Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 17th.

Insider Transactions at Valley National Bancorp

In other news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the transaction, the director now directly owns 224,679 shares in the company, valued at $1,734,521.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the sale, the director now owns 224,679 shares of the company’s stock, valued at $1,734,521.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Chillura sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $6.57, for a total value of $65,700.00. Following the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at approximately $3,582,285.93. The disclosure for this sale can be found here. Insiders sold 51,451 shares of company stock worth $378,452 over the last ninety days. 1.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Valley National Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Valley National Bancorp during the fourth quarter valued at approximately $35,000. Wolverine Asset Management LLC bought a new stake in Valley National Bancorp during the fourth quarter worth $40,000. EntryPoint Capital LLC bought a new stake in Valley National Bancorp during the first quarter worth $43,000. Simplicity Wealth LLC bought a new stake in Valley National Bancorp during the first quarter worth $92,000. Finally, Paloma Partners Management Co bought a new stake in Valley National Bancorp during the first quarter worth $98,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 4.6 %

VLY opened at $6.98 on Friday. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22. The stock’s fifty day simple moving average is $7.23 and its 200 day simple moving average is $8.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market cap of $3.55 billion, a PE ratio of 8.21 and a beta of 1.10.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The business had revenue of $890.07 million during the quarter, compared to the consensus estimate of $447.38 million. During the same quarter last year, the company posted $0.30 EPS. As a group, research analysts expect that Valley National Bancorp will post 0.86 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Thursday, June 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.30%. Valley National Bancorp’s dividend payout ratio (DPR) is 51.76%.

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.