Valley National Bancorp (NASDAQ:VLY) Price Target Increased to $10.00 by Analysts at Morgan Stanley

Valley National Bancorp (NASDAQ:VLY) had its price target upped by equities researchers at Morgan Stanley from $9.50 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 10.38% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada raised their price objective on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wedbush upped their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Barclays reduced their price target on shares of Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Hold” and an average target price of $8.63.

Valley National Bancorp Trading Up 3.3 %

Shares of NASDAQ:VLY traded up $0.29 during trading on Monday, reaching $9.06. The stock had a trading volume of 1,355,185 shares, compared to its average volume of 5,940,816. 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 quick ratio of 0.99 and a current ratio of 0.99. The firm’s fifty day moving average is $8.36 and its 200 day moving average is $7.70. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 10.66 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business had revenue of $884.68 million for the quarter, compared to analyst estimates of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period in the prior year, the business earned $0.28 EPS. As a group, equities analysts forecast that Valley National Bancorp will post 0.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Valley National Bancorp during the 4th quarter worth approximately $754,000. Rafferty Asset Management LLC raised its stake in Valley National Bancorp by 50.2% in the 4th quarter. Rafferty Asset Management LLC now owns 811,248 shares of the company’s stock valued at $8,810,000 after acquiring an additional 271,264 shares during the period. 1832 Asset Management L.P. bought a new position in Valley National Bancorp in the 4th quarter worth approximately $350,000. Gibson Capital LLC purchased a new position in Valley National Bancorp in the 4th quarter valued at approximately $365,000. Finally, Goldman Sachs Group Inc. raised its holdings in Valley National Bancorp by 6.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,814,048 shares of the company’s stock valued at $30,561,000 after acquiring an additional 160,854 shares during the period. Institutional investors own 61.00% of the company’s stock.

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.