JPMorgan Chase & Co. Has Lowered Expectations for Valley National Bancorp (NASDAQ:VLY) Stock Price

Valley National Bancorp (NASDAQ:VLY) had its price objective decreased by analysts at JPMorgan Chase & Co. from $11.50 to $10.50 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 16.80% from the stock’s current price.

A number of other brokerages also recently weighed in on VLY. Royal Bank of Canada raised their price objective on 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 cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Citigroup reduced their price objective on shares of Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, December 31st. 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, Stephens reaffirmed an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has an average rating of “Hold” and an average price target of $10.39.

Valley National Bancorp Trading Up 1.0 %

VLY stock opened at $8.99 on Tuesday. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The firm’s 50-day moving average is $9.87 and its 200 day moving average is $8.84. The company has a market capitalization of $4.58 billion, a PE ratio of 14.50 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.18 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 company had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. During the same period last year, the business posted $0.26 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.65 EPS for the current year.

Institutional Trading of Valley National Bancorp

Institutional investors have recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of Valley National Bancorp in the third quarter valued at approximately $515,000. Intech Investment Management LLC boosted its stake in 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 buying an additional 125,695 shares during the last quarter. HighTower Advisors LLC grew its holdings in Valley National Bancorp by 6.0% in the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock valued at $291,000 after buying an additional 1,806 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Valley National Bancorp by 66.1% during the 3rd quarter. Stifel Financial Corp now owns 217,312 shares of the company’s stock worth $1,969,000 after acquiring an additional 86,473 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Valley National Bancorp by 1,501.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock valued at $51,431,000 after acquiring an additional 5,322,278 shares during the last quarter. 61.00% of the stock is 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.