Valley National Bancorp (NASDAQ:VLY) Receives “Overweight” Rating from Stephens

Stephens restated their overweight rating on shares of Valley National Bancorp (NASDAQ:VLY) in a research report released on Thursday,Benzinga reports. They currently have a $12.50 target price on the stock.

Other equities analysts also recently issued reports about the company. Wedbush reiterated a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a research note on Friday, October 25th. Barclays boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.50 to $11.00 in a research note on Monday, November 11th. Morgan Stanley boosted their target price on shares of 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. Finally, Citigroup reduced their price target on shares of Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. One research 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’s stock. According to data from MarketBeat, Valley National Bancorp has an average rating of “Hold” and an average target price of $10.44.

Valley National Bancorp Trading Down 1.4 %

Shares of VLY opened at $8.93 on Thursday. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The stock has a 50-day moving average price of $9.93 and a 200 day moving average price of $8.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. The company has a market capitalization of $4.55 billion, a P/E ratio of 14.40 and a beta of 1.09.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The business had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same quarter last year, the company earned $0.26 earnings per share. Sell-side analysts forecast that Valley National Bancorp will post 0.65 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a dividend of $0.11 per share. The ex-dividend date was Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.93%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Hedge Funds Weigh In On Valley National Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of VLY. Dimensional Fund Advisors LP lifted its stake in shares of Valley National Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after acquiring an additional 337,416 shares during the period. Geode Capital Management LLC boosted its holdings in Valley National Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock worth $101,170,000 after buying an additional 300,385 shares in the last quarter. AQR Capital Management LLC grew its position in Valley National Bancorp by 193.2% in the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock worth $69,233,000 after buying an additional 6,703,552 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Valley National Bancorp by 384.2% in the third quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after buying an additional 7,118,044 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Valley National Bancorp by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,971,223 shares of the company’s stock valued at $63,159,000 after acquiring an additional 98,574 shares during the last quarter. 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.