Valley National Bancorp (NASDAQ:VLY) Given Average Rating of “Hold” by Analysts

Valley National Bancorp (NASDAQ:VLY) has been given an average recommendation of “Hold” by the nine research firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $10.39.

Several analysts recently issued reports on VLY shares. Citigroup reduced their price target on shares of Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, December 31st. Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Valley National Bancorp from $11.50 to $10.50 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Barclays raised their target price on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Valley National Bancorp by 384.2% during 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 last quarter. AQR Capital Management LLC lifted its position in Valley National Bancorp by 193.2% during the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after purchasing an additional 6,703,552 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock worth $51,431,000 after buying an additional 5,322,278 shares during the last quarter. Millennium Management LLC raised its position in shares of Valley National Bancorp by 995.0% during the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after buying an additional 2,522,204 shares in the last quarter. Finally, Basswood Capital Management L.L.C. bought a new stake in shares of Valley National Bancorp during the 3rd quarter worth $19,399,000. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Price Performance

VLY stock opened at $9.59 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 15.47 and a beta of 1.12. The company’s fifty day simple moving average is $9.78 and its 200 day simple moving average is $8.97. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The business 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 period in the previous year, the company posted $0.26 earnings per share. On average, analysts expect that Valley National Bancorp will post 0.64 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Friday, December 13th. Valley National Bancorp’s payout ratio is presently 70.97%.

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.