Valley National Bancorp (NASDAQ:VLY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Valley National Bancorp (NASDAQ:VLY) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $9.67.

A number of research firms have weighed in on VLY. Barclays began coverage on Valley National Bancorp in a research note on Friday, March 8th. They set an “underweight” rating and a $8.00 price objective on the stock. Morgan Stanley upped their price target on Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods decreased their price target on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Wedbush decreased their price target on Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, January 26th. Finally, Royal Bank of Canada decreased their price target on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th.

Insider Activity at Valley National Bancorp

In related news, EVP Joseph Chillura sold 49,715 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the sale, the executive vice president now owns 545,249 shares in the company, valued at approximately $4,460,136.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Valley National Bancorp

Several large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its holdings in Valley National Bancorp by 5.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 14,630 shares of the company’s stock worth $158,000 after purchasing an additional 818 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Valley National Bancorp by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 111,227 shares of the company’s stock valued at $1,201,000 after acquiring an additional 978 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Valley National Bancorp by 2.1% in the 1st quarter. Bank of Montreal Can now owns 47,828 shares of the company’s stock valued at $630,000 after acquiring an additional 989 shares during the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of Valley National Bancorp by 3.8% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 26,971 shares of the company’s stock valued at $305,000 after acquiring an additional 996 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Valley National Bancorp by 0.7% in the 4th quarter. Cerity Partners LLC now owns 144,288 shares of the company’s stock valued at $1,632,000 after acquiring an additional 1,063 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $7.71 on Tuesday. The stock’s fifty day moving average is $7.89 and its two-hundred day moving average is $8.83. The firm has a market capitalization of $3.92 billion, a P/E ratio of 8.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The company had revenue of $449.97 million for the quarter, compared to analyst estimates of $467.49 million. Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. During the same period last year, the firm posted $0.35 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.93 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were issued a $0.11 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 annualized dividend and a dividend yield of 5.71%. Valley National Bancorp’s dividend payout ratio is presently 46.32%.

Valley National Bancorp Company Profile

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.