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

Shares of Valley National Bancorp (NASDAQ:VLY) have earned a consensus rating of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.00.

A number of research analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.50 to $11.00 in a report on Monday, November 11th. Royal Bank of Canada raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley raised their price target on Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th.

Valley National Bancorp Stock Performance

VLY stock opened at $9.12 on Friday. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. 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 company has a market cap of $4.65 billion, a P/E ratio of 14.71 and a beta of 1.09. The business’s fifty day moving average is $9.92 and its 200-day moving average is $8.71.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $921.22 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.26 earnings per share. Equities research analysts forecast that Valley National Bancorp will post 0.65 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.82%. Valley National Bancorp’s dividend payout ratio is currently 70.97%.

Institutional Investors Weigh In On Valley National Bancorp

Several institutional investors have recently bought and sold shares of VLY. JPMorgan Chase & Co. grew its position in Valley National Bancorp by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company’s stock valued at $13,539,000 after purchasing an additional 439,831 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Valley National Bancorp by 170.0% in the third quarter. Sanctuary Advisors LLC now owns 67,861 shares of the company’s stock valued at $615,000 after acquiring an additional 42,731 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in Valley National Bancorp during the third quarter worth about $154,000. Geode Capital Management LLC boosted its position in Valley National Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock valued at $101,170,000 after purchasing an additional 300,385 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in Valley National Bancorp by 14.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 20,337 shares of the company’s stock valued at $179,000 after purchasing an additional 2,585 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

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.