Valley National Bancorp (NASDAQ:VLY) Stock Rating Upgraded by Barclays

Valley National Bancorp (NASDAQ:VLY) was upgraded by equities research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $10.00 price target on the stock, up from their previous price target of $9.00. Barclays‘s target price would indicate a potential upside of 6.16% from the stock’s previous close.

A number of other brokerages also recently commented on VLY. Morgan Stanley upped their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. lifted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. 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 report on Friday, October 25th. Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research note on Friday, October 25th. Finally, StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.75.

Valley National Bancorp Stock Down 0.5 %

VLY opened at $9.42 on Thursday. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22. 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 stock has a market capitalization of $4.80 billion, a P/E ratio of 15.19 and a beta of 1.08. The business’s 50-day simple moving average is $8.89 and its 200-day simple moving average is $7.96.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $467.87 million. During the same period in the previous year, the company posted $0.26 EPS. Analysts anticipate that Valley National Bancorp will post 0.67 EPS for the current year.

Institutional Trading of Valley National Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Valley National Bancorp by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock valued at $179,537,000 after buying an additional 337,416 shares during the period. AQR Capital Management LLC grew its position in Valley National Bancorp by 193.2% during the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after acquiring an additional 6,703,552 shares during the period. Millennium Management LLC grew its position in Valley National Bancorp by 995.0% during the second quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after acquiring an additional 2,522,204 shares during the period. Leeward Investments LLC MA increased its stake in Valley National Bancorp by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock worth $13,269,000 after acquiring an additional 101,099 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its holdings in shares of Valley National Bancorp by 32.3% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 1,100,066 shares of the company’s stock worth $7,678,000 after purchasing an additional 268,600 shares during the period. 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.