Valley National Bancorp (NYSE:VLY) was upgraded by equities researchers at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a research note issued on Friday, MarketBeat reports. The firm presently has a $13.50 price target on the financial services provider’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 16.98% from the company’s previous close.

VLY has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Keefe, Bruyette & Woods restated a “buy” rating and set a $13.00 target price on shares of Valley National Bancorp in a research report on Friday, September 29th. Finally, Royal Bank of Canada began coverage on shares of Valley National Bancorp in a research report on Thursday, December 21st. They set an “outperform” rating and a $14.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $13.21.

Shares of Valley National Bancorp (NYSE:VLY) opened at $11.54 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The firm has a market cap of $3,050.00, a P/E ratio of 16.97 and a beta of 0.89. Valley National Bancorp has a 1-year low of $10.61 and a 1-year high of $12.82.

Valley National Bancorp (NYSE:VLY) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $193.00 million for the quarter, compared to analysts’ expectations of $195.03 million. Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. sell-side analysts expect that Valley National Bancorp will post 0.68 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Valley National Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after buying an additional 817 shares during the last quarter. Advisor Group Inc. grew its position in Valley National Bancorp by 26.2% in the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after buying an additional 2,031 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Valley National Bancorp in the 3rd quarter valued at $126,000. Csenge Advisory Group purchased a new position in Valley National Bancorp in the 3rd quarter valued at $145,000. Finally, Eqis Capital Management Inc. purchased a new position in Valley National Bancorp in the 3rd quarter valued at $151,000. Institutional investors and hedge funds own 63.83% of the company’s stock.

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Valley National Bancorp Company Profile

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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