Valley National Bancorp (NASDAQ:VLY) Earns “Neutral” Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Valley National Bancorp (NASDAQ:VLY) in a report published on Friday, Benzinga reports. They currently have a $10.00 price objective on the stock. Wedbush also issued estimates for Valley National Bancorp’s Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.66 EPS, Q3 2025 earnings at $0.25 EPS and FY2026 earnings at $1.10 EPS.

A number of other research analysts have also recently issued reports on VLY. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods boosted their price objective on Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $9.63.

Valley National Bancorp Stock Performance

Valley National Bancorp stock opened at $9.27 on Friday. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a fifty day moving average price of $8.77 and a two-hundred day moving average price of $7.89. The firm has a market capitalization of $4.72 billion, a P/E ratio of 10.91 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last announced 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. The business had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. During the same quarter last year, the company posted $0.26 EPS. As a group, analysts anticipate that Valley National Bancorp will post 0.7 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.44 annualized dividend and a yield of 4.75%. Valley National Bancorp’s dividend payout ratio is currently 51.76%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama lifted its holdings in Valley National Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 535,546 shares of the company’s stock valued at $4,263,000 after buying an additional 1,435 shares during the period. Diversified Trust Co raised its position in shares of Valley National Bancorp by 11.1% during the 2nd quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock valued at $100,000 after acquiring an additional 1,435 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Valley National Bancorp by 48.2% in the 3rd 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 during the period. 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 during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Valley National Bancorp by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock worth $276,000 after purchasing an additional 2,154 shares during the period. Institutional investors own 61.00% of the company’s stock.

About Valley National Bancorp

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.