Valley National Bancorp (NASDAQ:VLY) Receives Average Rating of “Hold” from Brokerages

Valley National Bancorp (NASDAQ:VLY) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.75.

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective 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. Keefe, Bruyette & Woods upped their price objective on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research note on Friday, July 26th. Morgan Stanley increased their price target on 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. raised their price target on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $9.42 on Friday. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 15.19 and a beta of 1.08. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The business has a 50-day moving average of $8.89 and a 200-day moving average of $7.96.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $921.22 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.26 earnings per share. On average, equities analysts anticipate that Valley National Bancorp will post 0.67 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.67%. Valley National Bancorp’s dividend payout ratio is 70.97%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in Valley National Bancorp during the third quarter valued at $25,000. Blue Trust Inc. boosted its position in Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after purchasing an additional 1,564 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Valley National Bancorp during the first quarter valued at $43,000. Innealta Capital LLC acquired a new stake in Valley National Bancorp during the second quarter valued at $38,000. Finally, Hexagon Capital Partners LLC boosted its position in Valley National Bancorp by 416.8% during the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after purchasing an additional 5,001 shares during the last quarter. Hedge funds and other 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.