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

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

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group upgraded shares of Valley National Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $11.00 to $14.00 in a report on Wednesday, September 24th. Wall Street Zen raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Barclays reaffirmed a “positive” rating on shares of Valley National Bancorp in a research report on Wednesday. Finally, National Bankshares set a $14.00 price objective on shares of Valley National Bancorp in a research report on Monday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.68.

Valley National Bancorp Stock Down 5.2%

VLY stock opened at $10.33 on Wednesday. Valley National Bancorp has a 52-week low of $7.48 and a 52-week high of $11.16. The company’s 50 day simple moving average is $10.35 and its 200-day simple moving average is $9.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $5.78 billion, a P/E ratio of 13.24 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Valley National Bancorp had a net margin of 12.87% and a return on equity of 5.89%. The business had revenue of $495.01 million for the quarter, compared to analyst estimates of $495.79 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, September 15th. Valley National Bancorp’s payout ratio is currently 56.41%.

Institutional Trading of Valley National Bancorp

Large investors have recently added to or reduced their stakes in the business. State of Michigan Retirement System boosted its holdings in shares of Valley National Bancorp by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 113,681 shares of the company’s stock worth $1,011,000 after buying an additional 1,200 shares during the period. Signaturefd LLC boosted its holdings in shares of Valley National Bancorp by 23.2% during the 2nd quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock worth $62,000 after buying an additional 1,297 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Valley National Bancorp by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 133,100 shares of the company’s stock worth $1,183,000 after buying an additional 1,300 shares during the period. Forum Financial Management LP boosted its holdings in shares of Valley National Bancorp by 7.8% during the 1st quarter. Forum Financial Management LP now owns 19,142 shares of the company’s stock worth $170,000 after buying an additional 1,381 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Valley National Bancorp by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 55,597 shares of the company’s stock worth $494,000 after buying an additional 1,465 shares during the period. 61.00% of the stock is owned by institutional investors.

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.