Valley National Bancorp (NASDAQ:VLY) Receives $14.40 Consensus PT from Analysts

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

VLY has been the subject of several analyst reports. Morgan Stanley upped their price objective on Valley National Bancorp from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Hovde Group raised their target price on Valley National Bancorp from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $14.00 to $14.50 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Barclays upped their price target 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, Zacks Research cut shares of Valley National Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th.

Valley National Bancorp Price Performance

Shares of VLY opened at $11.73 on Tuesday. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 11.61 and a beta of 1.07. The firm’s fifty day simple moving average is $12.56 and its 200-day simple moving average is $11.60. Valley National Bancorp has a twelve month low of $7.48 and a twelve month high of $13.87. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, January 29th. The company reported $0.31 EPS 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 firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $524.31 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. Equities analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, March 13th. Valley National Bancorp’s dividend payout ratio (DPR) is 43.56%.

Insider Buying and Selling

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

Institutional Trading of Valley National Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Valley National Bancorp in the 4th quarter valued at about $26,000. First Horizon Corp increased its position in Valley National Bancorp by 52.5% during the fourth quarter. First Horizon Corp now owns 3,219 shares of the company’s stock worth $38,000 after buying an additional 1,108 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Valley National Bancorp in the fourth quarter valued at approximately $39,000. Smartleaf Asset Management LLC lifted its stake in Valley National Bancorp by 77.4% in the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock valued at $48,000 after buying an additional 1,996 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Valley National Bancorp by 24.5% in the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock valued at $51,000 after acquiring an additional 855 shares during the period. Institutional investors and hedge funds 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.