Valley National Bancorp (NASDAQ:VLY) Earns “Hold (C+)” Rating from Weiss Ratings

Valley National Bancorp (NASDAQ:VLY)‘s stock had its “hold (c+)” rating reissued by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently issued reports on VLY. Cantor Fitzgerald began coverage on shares of Valley National Bancorp in a research report on Wednesday, September 10th. They set an “overweight” rating and a $12.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Hovde Group began coverage on shares of Valley National Bancorp in a research report on Wednesday, September 10th. They set an “outperform” rating and a $12.50 price objective for the company. Royal Bank Of Canada upped their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, Barclays reiterated a “positive” rating on shares of Valley National Bancorp in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.54.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $10.89 on Wednesday. The firm has a 50 day moving average of $10.33 and a 200-day moving average of $9.38. The stock has a market capitalization of $6.10 billion, a PE ratio of 13.96 and a beta of 1.12. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. Valley National Bancorp has a 12 month low of $7.48 and a 12 month high of $11.16.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, July 24th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $495.01 million during the quarter, compared to analysts’ expectations of $495.79 million. Valley National Bancorp had a net margin of 12.87% and a return on equity of 5.89%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. On average, equities research analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Valley National Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Valley National Bancorp in the 1st quarter valued at approximately $35,000. Farther Finance Advisors LLC boosted its stake in shares of Valley National Bancorp by 206.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company’s stock valued at $38,000 after purchasing an additional 2,896 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Valley National Bancorp in the 2nd quarter valued at $39,000. Brown Lisle Cummings Inc. bought a new stake in shares of Valley National Bancorp in the 1st quarter valued at $39,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Valley National Bancorp by 11,831.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock valued at $48,000 after purchasing an additional 5,324 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.