StockNews.com Downgrades Valley National Bancorp (NASDAQ:VLY) to Sell

Valley National Bancorp (NASDAQ:VLY) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $10.50 to $11.00 in a research note on Monday, November 11th. Piper Sandler lifted their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Barclays raised shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $9.00 to $10.00 in a research note on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price target on shares of Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.88.

Valley National Bancorp Price Performance

Shares of VLY stock opened at $10.15 on Tuesday. The firm has a market cap of $5.17 billion, a P/E ratio of 16.37 and a beta of 1.07. The firm has a fifty day moving average of $9.32 and a two-hundred day moving average of $8.20. 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 has a 1-year low of $6.47 and a 1-year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) 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 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 firm posted $0.26 EPS. As a group, research analysts anticipate that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valley National Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in Valley National Bancorp by 1.3% in the second 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. Geode Capital Management LLC increased its stake in shares of Valley National Bancorp by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock valued at $101,170,000 after acquiring an additional 300,385 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Valley National Bancorp by 193.2% in the 2nd 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 last quarter. Wellington Management Group LLP raised its position in shares of Valley National Bancorp by 384.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after acquiring an additional 7,118,044 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $63,159,000 after acquiring an additional 98,574 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

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.