Valley National Bancorp (NASDAQ:VLY) Receives $10.00 Average Target Price from Analysts

Valley National Bancorp (NASDAQ:VLY) has received a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.00.

Several research analysts have recently commented on VLY shares. Barclays raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Piper Sandler increased their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $10.50 to $11.00 in a research note on Monday, November 11th.

Institutional Investors Weigh In On Valley National Bancorp

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new position in Valley National Bancorp during the third quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Valley National Bancorp in the 2nd quarter valued at about $38,000. Blue Trust Inc. lifted its stake in shares of Valley National Bancorp by 48.2% in the third 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. Hexagon Capital Partners LLC boosted its holdings 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 worth $56,000 after buying an additional 5,001 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after buying an additional 2,151 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Price Performance

Valley National Bancorp stock opened at $9.23 on Friday. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 14.89 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.18. The company’s 50 day simple moving average is $9.94 and its 200-day simple moving average is $8.65.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The business had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, equities research analysts expect that Valley National Bancorp will post 0.65 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.77%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s payout ratio is currently 70.97%.

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.