Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $11.00

Valley National Bancorp (NASDAQ:VLYFree Report) had its price objective lifted by JPMorgan Chase & Co. from $10.50 to $11.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Citigroup decreased their target price on shares of Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 31st. Stephens restated an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Wedbush reiterated a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a research note on Friday, October 25th. 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. Finally, Morgan Stanley increased their target price on 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Hold” and a consensus target price of $10.56.

Check Out Our Latest Research Report on Valley National Bancorp

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $10.17 on Friday. 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 market capitalization of $5.18 billion, a PE ratio of 16.40 and a beta of 1.12. The firm’s 50 day moving average price is $9.75 and its 200-day moving average price is $9.08. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the prior year, the business posted $0.22 EPS. Equities research analysts expect that Valley National Bancorp will post 0.64 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders 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 4.33%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s payout ratio is 70.97%.

Institutional Investors Weigh In On Valley National Bancorp

A number of hedge funds have recently bought and sold shares of VLY. Harbor Capital Advisors Inc. purchased a new position in shares of Valley National Bancorp in the 3rd quarter worth $25,000. R Squared Ltd bought a new position in shares of Valley National Bancorp in the 4th quarter valued at about $25,000. Blue Trust Inc. increased its stake in Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after acquiring an additional 1,564 shares during the last quarter. Hexagon Capital Partners LLC raised its position in 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 period. Finally, GAMMA Investing LLC lifted its stake 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 valued at $62,000 after purchasing an additional 2,151 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Valley National Bancorp (NASDAQ:VLY)

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