Valley National Bancorp (NASDAQ:VLY) Stock Price Expected to Rise, Barclays Analyst Says

Valley National Bancorp (NASDAQ:VLY) had its target price upped by Barclays from $10.00 to $11.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 4.66% from the stock’s current price.

VLY has been the subject of a number of other reports. Morgan Stanley upped their target price on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Royal Bank of Canada upped their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Wedbush restated a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $10.50 to $11.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Hold” and an average price target of $10.00.

Valley National Bancorp Stock Up 0.9 %

Shares of VLY stock opened at $10.51 on Thursday. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.22. The firm has a market cap of $5.35 billion, a PE ratio of 16.81 and a beta of 1.09. The stock has a 50 day moving average of $9.70 and a 200-day moving average of $8.41. 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 (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $921.22 million during the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same period in the previous year, the company earned $0.26 earnings per share. On average, equities analysts predict that Valley National Bancorp will post 0.66 EPS for the current year.

Institutional Trading of Valley National Bancorp

Large investors have recently made changes to their positions in the business. Kestra Investment Management LLC bought a new stake in shares of Valley National Bancorp during the third quarter worth $515,000. Intech Investment Management LLC grew its holdings in shares of Valley National Bancorp by 332.7% during the third quarter. Intech Investment Management LLC now owns 163,478 shares of the company’s stock worth $1,481,000 after purchasing an additional 125,695 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Valley National Bancorp by 1,501.7% during the third quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock worth $51,431,000 after purchasing an additional 5,322,278 shares during the last quarter. Waterfall Asset Management LLC bought a new stake in shares of Valley National Bancorp during the second quarter worth $1,693,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Valley National Bancorp by 34.2% during the second quarter. Nisa Investment Advisors LLC now owns 156,020 shares of the company’s stock worth $1,107,000 after purchasing an additional 39,750 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

About Valley National Bancorp

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.