Valley National Bancorp (NASDAQ:VLY) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Valley National Bancorp (NASDAQ:VLY) from a hold rating to a sell rating in a research report released on Tuesday.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. 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 report on Friday, July 26th. Barclays raised shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $9.00 to $10.00 in a research note on Thursday, October 31st. Wedbush reissued a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a research note on Friday, October 25th. Finally, Royal Bank of Canada raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.88.

Valley National Bancorp Stock Up 1.0 %

VLY stock opened at $10.25 on Tuesday. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22. The firm has a market capitalization of $5.22 billion, a PE ratio of 16.53 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $9.36 and a two-hundred day simple moving average of $8.21.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting 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 business had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, equities analysts predict that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.29%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 70.97%.

Institutional Trading of Valley National Bancorp

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in Valley National Bancorp during the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new stake in shares of Valley National Bancorp in the second quarter worth about $38,000. EntryPoint Capital LLC purchased a new position in Valley National Bancorp during the 1st quarter valued at about $43,000. Blue Trust Inc. raised its position in Valley National Bancorp by 48.2% during 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 last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock worth $56,000 after buying an additional 5,001 shares during the period. Hedge funds and other 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.