Valley National Bancorp (NASDAQ:VLY) Receives Consensus Recommendation of “Hold” from Brokerages

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

Several analysts recently issued reports on VLY shares. Keefe, Bruyette & Woods cut their price objective on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Wedbush cut their target price on Valley National Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, January 26th. Morgan Stanley raised their target price on Valley National Bancorp from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Royal Bank of Canada cut their target price on Valley National Bancorp from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. cut their target price on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th.

Valley National Bancorp Stock Performance

VLY opened at $7.42 on Tuesday. The firm has a market cap of $3.78 billion, a PE ratio of 7.81 and a beta of 1.09. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $7.96 and a 200-day simple moving average of $8.86. 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 the consensus estimate of $0.25 by ($0.03). The company had revenue of $449.97 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.35 earnings per share. As a group, equities analysts predict that Valley National Bancorp will post 0.93 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date was Wednesday, March 13th. Valley National Bancorp’s payout ratio is 46.32%.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $8.18, for a total transaction of $406,668.70. Following the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at $4,460,136.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VLY. Quarry LP grew its holdings in shares of Valley National Bancorp by 198.1% in the 1st quarter. Quarry LP now owns 3,070 shares of the company’s stock valued at $28,000 after buying an additional 2,040 shares during the period. GAMMA Investing LLC acquired a new position in Valley National Bancorp in the 4th quarter worth $35,000. Wolverine Asset Management LLC acquired a new position in Valley National Bancorp in the 4th quarter worth $40,000. Advisors Asset Management Inc. boosted its stake in Valley National Bancorp by 46.3% in the 4th quarter. Advisors Asset Management Inc. now owns 5,152 shares of the company’s stock worth $58,000 after purchasing an additional 1,631 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Valley National Bancorp by 24.4% in the 1st quarter. Advisory Services Network LLC now owns 8,665 shares of the company’s stock worth $80,000 after purchasing an additional 1,700 shares during the period. 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.