Valley National Bancorp (VLY) – What Are Researchers Thinking About This Stock?

Shares of Valley National Bancorp (NASDAQ:VLY) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.86.

Several research firms have recently weighed in on VLY. UBS Group increased their price target on Valley National Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Morgan Stanley increased their price objective on shares of Valley National Bancorp from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. National Bank Financial set a $18.50 price target on Valley National Bancorp in a report on Monday, October 26th. Cantor Fitzgerald upped their target price on shares of Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Truist Financial raised their target price on shares of Valley National Bancorp from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Monday, October 26th.

Valley National Bancorp Trading Down 1.2%

NASDAQ:VLY opened at $14.27 on Wednesday. Valley National Bancorp has a 52 week low of $10.34 and a 52 week high of $15.20. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 11.33 and a beta of 1.09. The company’s 50 day moving average price is $13.39 and its 200-day moving average price is $13.46. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.35.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Valley National Bancorp had a return on equity of 9.63% and a net margin of 20.44%. The business had revenue of $581.10 million for the quarter, compared to analysts’ expectations of $577.82 million. During the same period in the prior year, the firm posted $0.28 EPS. On average, equities research analysts forecast that Valley National Bancorp will post 1.29 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, December 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.1%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 34.92%.

Institutional Investors Weigh In On Valley National Bancorp

Several large investors have recently made changes to their positions in VLY. Cedar Mountain Advisors LLC purchased a new stake in shares of Valley National Bancorp in the first quarter worth about $26,000. Assetmark Inc. grew its holdings in Valley National Bancorp by 123.7% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after buying an additional 1,189 shares in the last quarter. Compass Financial Management LLC purchased a new position in Valley National Bancorp during the 2nd quarter valued at approximately $28,000. Root Financial Partners LLC grew its holdings in Valley National Bancorp by 127.3% during the 1st quarter. Root Financial Partners LLC now owns 3,976 shares of the company’s stock valued at $49,000 after buying an additional 2,227 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Valley National Bancorp by 41.8% in the 1st quarter. Parallel Advisors LLC now owns 6,163 shares of the company’s stock worth $76,000 after acquiring an additional 1,816 shares during the last quarter. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Company Profile

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional bank headquartered in Wayne, New Jersey. The company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities through a network of branches and digital banking channels.

Valley National Bank offers deposit accounts, residential and commercial real estate lending, business loans, consumer loans, mortgage banking, treasury management and other commercial banking services.