Valley National Bancorp (NASDAQ:VLY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Valley National Bancorp (NASDAQ:VLY) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $12.8929.

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Barclays reaffirmed a “positive” rating on shares of Valley National Bancorp in a research report on Wednesday, October 8th. Truist Financial lifted their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Hovde Group assumed coverage on shares of Valley National Bancorp in a research report on Wednesday, September 10th. They set an “outperform” rating and a $12.50 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday.

Institutional Investors Weigh In On Valley National Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in Valley National Bancorp by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,100,892 shares of the company’s stock worth $9,787,000 after acquiring an additional 10,996 shares in the last quarter. GAMMA Investing LLC raised its stake in Valley National Bancorp by 22.4% during the 1st quarter. GAMMA Investing LLC now owns 9,325 shares of the company’s stock worth $83,000 after acquiring an additional 1,709 shares in the last quarter. Hourglass Capital LLC raised its stake in Valley National Bancorp by 6.3% during the 1st quarter. Hourglass Capital LLC now owns 444,513 shares of the company’s stock worth $3,952,000 after acquiring an additional 26,280 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in Valley National Bancorp by 33.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 17,058 shares of the company’s stock worth $152,000 after acquiring an additional 4,261 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Valley National Bancorp by 230.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,833 shares of the company’s stock worth $1,314,000 after acquiring an additional 103,159 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $10.98 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. Valley National Bancorp has a 52 week low of $7.48 and a 52 week high of $11.28. The stock has a market capitalization of $6.15 billion, a PE ratio of 12.48 and a beta of 1.12. The firm has a 50 day moving average of $10.52 and a two-hundred day moving average of $9.51.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $511.11 million during the quarter, compared to analysts’ expectations of $511.47 million. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. On average, research analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, December 15th. Valley National Bancorp’s dividend payout ratio (DPR) is currently 56.41%.

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.