Valley National Bancorp (NYSE:VLY) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other analysts have also recently issued reports on VLY. Piper Jaffray Companies reissued a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Valley National Bancorp in a research report on Wednesday. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Hovde Group raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 target price for the company in a research report on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating and issued a $11.50 target price (up from $11.00) on shares of Valley National Bancorp in a research report on Friday, July 7th. Finally, ValuEngine raised Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $12.67.

Shares of Valley National Bancorp (NYSE:VLY) opened at 11.31 on Friday. The firm has a market cap of $2.99 billion, a P/E ratio of 16.16 and a beta of 0.90. The company’s 50 day moving average price is $11.81 and its 200-day moving average price is $11.88. Valley National Bancorp has a 12-month low of $9.15 and a 12-month high of $12.82.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $195.79 million for the quarter, compared to the consensus estimate of $190.83 million. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. During the same quarter in the prior year, the business posted $0.15 EPS. On average, equities research analysts anticipate that Valley National Bancorp will post $0.71 EPS for the current year.

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In other Valley National Bancorp news, Director Mary Guilfoile sold 39,495 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $11.91, for a total transaction of $470,385.45. Following the completion of the sale, the director now directly owns 258,719 shares of the company’s stock, valued at approximately $3,081,343.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.07% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of VLY. BlackRock Inc. boosted its stake in Valley National Bancorp by 9,915.0% in the first quarter. BlackRock Inc. now owns 31,310,183 shares of the financial services provider’s stock worth $369,461,000 after buying an additional 30,997,551 shares during the last quarter. Vanguard Group Inc. boosted its stake in Valley National Bancorp by 2.1% in the second quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock worth $258,410,000 after buying an additional 448,524 shares during the last quarter. State Street Corp boosted its stake in Valley National Bancorp by 12.2% in the first quarter. State Street Corp now owns 14,739,234 shares of the financial services provider’s stock worth $173,924,000 after buying an additional 1,598,627 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Valley National Bancorp by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 12,963,108 shares of the financial services provider’s stock worth $153,096,000 after buying an additional 267,848 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Valley National Bancorp by 52.0% in the second quarter. American Century Companies Inc. now owns 6,504,366 shares of the financial services provider’s stock worth $76,817,000 after buying an additional 2,224,024 shares during the last quarter. 61.63% of the stock is owned by institutional investors.

About Valley National Bancorp

Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.

Analyst Recommendations for Valley National Bancorp (NYSE:VLY)

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