Valley National Bancorp (NASDAQ:VLY) Given Consensus Rating of “Moderate Buy” by Analysts

Valley National Bancorp (NASDAQ:VLY) has earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $13.4286.

VLY has been the topic of several recent analyst reports. Janney Montgomery Scott raised shares of Valley National Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald increased their price objective on shares of Valley National Bancorp from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Weiss Ratings lowered Valley National Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. Zacks Research cut Valley National Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Morgan Stanley raised their price target on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $11.91 on Monday. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 13.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average price of $11.66 and a 200-day moving average price of $10.77. Valley National Bancorp has a one year low of $7.48 and a one year high of $12.68.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $511.08 million during the quarter, compared to the consensus estimate of $511.47 million. Valley National Bancorp had a return on equity of 6.67% and a net margin of 14.86%.Valley National Bancorp’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Equities analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Valley National Bancorp by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock valued at $2,508,000 after buying an additional 15,771 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Valley National Bancorp during the first quarter worth approximately $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Valley National Bancorp by 21.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock valued at $12,852,000 after acquiring an additional 255,870 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Valley National Bancorp by 34.9% in the first quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock valued at $541,000 after purchasing an additional 15,761 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Valley National Bancorp by 23.2% in the second 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 period. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Company Profile

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.