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

StockNews.com downgraded shares of Valley National Bancorp (NASDAQ:VLY) from a hold rating to a sell rating in a research report released on Tuesday morning.

A number of other equities research analysts have also recently issued reports on VLY. Piper Sandler boosted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Barclays upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $9.00 to $10.00 in a research note on Thursday, October 31st. Wedbush reiterated a “neutral” rating and set a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. Royal Bank of Canada boosted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and upped their price target for the company from $10.50 to $11.00 in a research note on Monday, November 11th. One 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 stock presently has an average rating of “Hold” and an average price target of $9.88.

Valley National Bancorp Stock Down 0.4 %

VLY opened at $10.19 on Tuesday. The stock’s fifty day simple moving average is $9.28 and its 200 day simple moving average is $8.18. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22. The stock has a market cap of $5.19 billion, a PE ratio of 16.44 and a beta of 1.07. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Institutional Investors Weigh In On Valley National Bancorp

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Valley National Bancorp in the 3rd quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Valley National Bancorp during the second quarter valued at approximately $38,000. EntryPoint Capital LLC bought a new stake in Valley National Bancorp during the first quarter worth $43,000. Blue Trust Inc. boosted its holdings in shares of Valley National Bancorp by 48.2% in the 3rd 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 in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Valley National Bancorp by 416.8% in the 3rd 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. 61.00% of the stock is currently owned by institutional investors and hedge funds.

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.