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

Valley National Bancorp (NASDAQ:VLY) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $14.20.

Several research analysts have recently issued reports on the stock. National Bank Financial set a $16.00 target price on shares of Valley National Bancorp in a research note on Friday, January 30th. Hovde Group raised their target price on shares of Valley National Bancorp from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. UBS Group assumed coverage on Valley National Bancorp in a research report on Monday, December 15th. They issued a “buy” rating and a $15.00 target price on the stock. Barclays raised their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada lifted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, January 30th.

Valley National Bancorp Stock Down 0.8%

Shares of NASDAQ VLY opened at $13.16 on Friday. Valley National Bancorp has a 12-month low of $7.48 and a 12-month high of $13.87. The firm’s 50-day simple moving average is $12.38 and its 200 day simple moving average is $11.23. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 13.03 and a beta of 1.10.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The company had revenue of $541.25 million during the quarter, compared to the consensus estimate of $524.31 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Insider Activity

In other Valley National Bancorp news, Director Carlos J. Vazquez bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average cost of $13.45 per share, with a total value of $33,625.00. Following the acquisition, the director owned 4,252 shares of the company’s stock, valued at $57,189.40. The trade was a 142.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Valley National Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in Valley National Bancorp by 24.5% during the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock worth $51,000 after acquiring an additional 855 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Valley National Bancorp by 5.6% in the 4th quarter. Ritholtz Wealth Management now owns 16,652 shares of the company’s stock valued at $194,000 after purchasing an additional 888 shares during the period. Bank of Montreal Can boosted its position in shares of Valley National Bancorp by 2.1% during the 4th quarter. Bank of Montreal Can now owns 43,940 shares of the company’s stock valued at $513,000 after purchasing an additional 918 shares in the last quarter. Rothschild Investment LLC grew its stake in Valley National Bancorp by 7.3% during the fourth quarter. Rothschild Investment LLC now owns 13,592 shares of the company’s stock worth $159,000 after purchasing an additional 923 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its holdings in Valley National Bancorp by 0.9% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 107,294 shares of the company’s stock worth $1,137,000 after purchasing an additional 951 shares in the last quarter. 61.00% of the stock is 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.