Valley National Bancorp (NASDAQ:VLY) Receives Average Recommendation of “Hold” from Analysts

Shares of Valley National Bancorp (NASDAQ:VLY) have earned an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.78.

Several research analysts recently issued reports on VLY shares. Stephens reiterated an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Royal Bank of Canada upped their price target on Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Barclays lifted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Piper Sandler upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price on the stock in a research report on Monday, March 24th. Finally, Citigroup lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the completion of the transaction, the executive vice president now directly owns 495,249 shares in the company, valued at approximately $5,056,492.29. The trade was a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VLY. R Squared Ltd acquired a new stake in shares of Valley National Bancorp during the fourth quarter worth $25,000. Point72 Hong Kong Ltd bought a new stake in shares of Valley National Bancorp in the fourth quarter valued at about $39,000. Optiver Holding B.V. boosted its position in shares of Valley National Bancorp by 80.9% during the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock worth $46,000 after buying an additional 2,271 shares during the period. Sapient Capital LLC bought a new position in shares of Valley National Bancorp during the fourth quarter worth about $103,000. Finally, CreativeOne Wealth LLC bought a new position in shares of Valley National Bancorp during the fourth quarter worth about $102,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Up 1.3 %

Shares of Valley National Bancorp stock opened at $8.89 on Tuesday. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10. The stock has a market capitalization of $4.98 billion, a P/E ratio of 12.88 and a beta of 1.11. The company has a 50-day simple moving average of $9.55 and a 200 day simple moving average of $9.53. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter last year, the business posted $0.22 EPS. Research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.95%. Valley National Bancorp’s dividend payout ratio is 63.77%.

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.