Valley National Bancorp’s (VLY) “Hold (C+)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c+) rating on shares of Valley National Bancorp (NASDAQ:VLY) in a report published on Friday morning,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $14.00 in a report on Wednesday, September 24th. Royal Bank Of Canada increased their target price on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods increased their target price on shares of Valley National Bancorp from $11.50 to $12.00 and gave the stock a “market perform” rating in a report on Friday. Truist Financial increased their target price on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Barclays reiterated a “positive” rating on shares of Valley National Bancorp in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.89.

Valley National Bancorp Trading Up 4.0%

NASDAQ VLY opened at $10.98 on Friday. The company’s 50-day moving average price is $10.52 and its 200-day moving average price is $9.53. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.15 billion, a PE ratio of 12.48 and a beta of 1.12. Valley National Bancorp has a 12 month low of $7.48 and a 12 month high of $11.28.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $511.11 million for the quarter, compared to analysts’ expectations of $511.47 million. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Equities research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, December 15th. Valley National Bancorp’s dividend payout ratio is presently 50.00%.

Institutional Trading of Valley National Bancorp

Hedge funds have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Valley National Bancorp during the first quarter valued at about $35,000. Atlantic Union Bankshares Corp purchased a new position in shares of Valley National Bancorp in the 2nd quarter valued at approximately $39,000. Hantz Financial Services Inc. raised its position in shares of Valley National Bancorp by 11,831.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock valued at $48,000 after purchasing an additional 5,324 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Valley National Bancorp by 244.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after purchasing an additional 4,177 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Valley National Bancorp by 23.2% in the 2nd quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock valued at $62,000 after purchasing an additional 1,297 shares during the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

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.