Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $15.00

Valley National Bancorp (NASDAQ:VLYGet Free Report) had its target price raised by stock analysts at Hovde Group from $14.00 to $15.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Hovde Group’s price target would indicate a potential upside of 18.39% from the company’s previous close.

VLY has been the subject of several other reports. Keefe, Bruyette & Woods raised their price target on Valley National Bancorp from $11.50 to $12.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Raymond James Financial raised Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research note on Friday. National Bankshares set a $14.50 target price on Valley National Bancorp in a research report on Tuesday, December 16th. Wall Street Zen upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, TD Cowen reissued a “buy” rating on shares of Valley National Bancorp in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.70.

View Our Latest Research Report on VLY

Valley National Bancorp Trading Up 3.3%

Shares of VLY stock opened at $12.67 on Friday. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $12.78. The firm has a market cap of $7.07 billion, a PE ratio of 14.40 and a beta of 1.09. The company has a 50-day moving average of $11.81 and a two-hundred day moving average of $10.83. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The firm had revenue of $541.25 million for the quarter, compared to analyst estimates of $524.31 million. On average, analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Hedge Funds Weigh In On Valley National Bancorp

Several hedge funds have recently made changes to their positions in the company. Azora Capital LP acquired a new position in Valley National Bancorp during the third quarter worth approximately $103,120,000. UBS Group AG grew its position in shares of Valley National Bancorp by 404.7% during the third quarter. UBS Group AG now owns 5,867,611 shares of the company’s stock worth $62,197,000 after acquiring an additional 4,704,971 shares during the last quarter. Norges Bank acquired a new position in shares of Valley National Bancorp in the 2nd quarter valued at $31,276,000. Holocene Advisors LP purchased a new stake in Valley National Bancorp in the 3rd quarter valued at $34,593,000. Finally, Freestone Grove Partners LP purchased a new stake in Valley National Bancorp in the 3rd quarter valued at $27,607,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Key Stories Impacting Valley National Bancorp

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About Valley National Bancorp

(Get Free Report)

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.

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