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

Shares of Valley National Bancorp (NASDAQ:VLY) have been given an average rating of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $14.40.

A number of brokerages have commented on VLY. Weiss Ratings raised shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. National Bank Financial set a $16.00 price target on Valley National Bancorp in a research note on Friday, January 30th. Barclays lifted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Citigroup reiterated a “buy” rating on shares of Valley National Bancorp in a report on Monday, February 2nd. Finally, Zacks Research lowered shares of Valley National Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY opened at $11.92 on Tuesday. The business’s 50 day moving average is $12.58 and its two-hundred day moving average is $11.57. Valley National Bancorp has a 12 month low of $7.48 and a 12 month high of $13.87. 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 $6.62 billion, a P/E ratio of 11.80 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $524.31 million. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.Valley National Bancorp’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, equities analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 annualized dividend and a dividend yield of 3.7%. Valley National Bancorp’s dividend payout ratio is presently 43.56%.

Insiders Place Their Bets

In other Valley National Bancorp news, Director Carlos J. Vazquez bought 2,500 shares of Valley National Bancorp stock in a transaction dated Tuesday, February 17th. The stock was bought at an average price of $13.45 per share, with a total value of $33,625.00. Following the completion of the transaction, the director owned 4,252 shares in the company, valued at $57,189.40. The trade was a 142.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Valley National Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of VLY. Los Angeles Capital Management LLC bought a new position in shares of Valley National Bancorp in the 4th quarter valued at $26,000. First Horizon Corp boosted its stake in shares of Valley National Bancorp by 52.5% in the 4th quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after purchasing an additional 1,108 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in Valley National Bancorp during the fourth quarter valued at $39,000. Smartleaf Asset Management LLC grew its stake in Valley National Bancorp by 77.4% during the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock worth $48,000 after purchasing an additional 1,996 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of 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 buying an additional 855 shares during the period. Institutional investors own 61.00% of the company’s stock.

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.