Citigroup Issues Positive Forecast for Valley National Bancorp (NASDAQ:VLY) Stock Price

Valley National Bancorp (NASDAQ:VLYGet Free Report) had its target price boosted by equities research analysts at Citigroup from $10.00 to $11.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 7.84% from the stock’s current price.

VLY has been the topic of several other reports. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. 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 research report on Monday, September 30th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Stephens reiterated an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Valley National Bancorp currently has a consensus rating of “Hold” and a consensus target price of $10.67.

Read Our Latest Research Report on Valley National Bancorp

Valley National Bancorp Stock Down 1.2 %

NASDAQ VLY opened at $10.20 on Monday. The business has a fifty day moving average price of $9.75 and a two-hundred day moving average price of $9.12. The stock has a market capitalization of $5.20 billion, a PE ratio of 16.45 and a beta of 1.12. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. 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:VLYGet Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 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 quarter in the prior year, the company posted $0.22 earnings per share. Equities analysts expect that Valley National Bancorp will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of Valley National Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in shares of Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after purchasing an additional 1,371 shares during the period. Townsquare Capital LLC grew its holdings in shares of Valley National Bancorp by 11.8% during the 3rd quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after acquiring an additional 1,521 shares during the period. Blue Trust Inc. raised its position 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 worth $44,000 after acquiring an additional 1,564 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Valley National Bancorp by 6.0% in the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock valued at $291,000 after purchasing an additional 1,806 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Valley National Bancorp by 46.4% during the third 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 in 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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