Valley National Bancorp (NASDAQ:VLY) Stock Rating Upgraded by JPMorgan Chase & Co.

Valley National Bancorp (NASDAQ:VLY) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $11.00 price objective on the stock, up from their previous price objective of $10.50. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.48% from the company’s current price.

VLY has been the topic of a number of other reports. Royal Bank of Canada boosted 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. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Piper Sandler lifted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. Finally, Barclays upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $9.00 to $10.00 in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Valley National Bancorp has an average rating of “Hold” and an average target price of $9.88.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $10.14 on Monday. The company has a market cap of $5.16 billion, a P/E ratio of 16.35 and a beta of 1.07. The company’s fifty day moving average is $9.05 and its two-hundred day moving average is $8.06. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The firm had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same period in the prior year, the business earned $0.26 EPS. Equities analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Valley National Bancorp during the third quarter valued at about $25,000. Innealta Capital LLC bought a new stake in Valley National Bancorp during the 2nd quarter valued at approximately $38,000. EntryPoint Capital LLC acquired a new stake in Valley National Bancorp in the 1st quarter valued at approximately $43,000. Blue Trust Inc. increased its position in 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 buying an additional 1,564 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of 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 during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.