Valley National Bancorp (VLY) Stock Rating Upgraded by Zacks Investment Research
According to Zacks, “Valley National Bancorp is a bank holding company whose principal subsidiary is Valley National Bank. Valley National Bank provides a full range of commercial and retail banking services through branch offices located in northern New Jersey. These services include the following: the acceptance of demand, savings and time deposits; extension of consumer, real estate, Small Business Administration and other commercial credits; title insurance; investment services; and full personal and corporate trust, as well as pension and fiduciary services. “
Separately, TheStreet upgraded Valley National Bancorp from a c+ rating to a b- rating in a research note on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Valley National Bancorp has an average rating of Hold and a consensus price target of $12.95.
Valley National Bancorp (NYSE:VLY) last issued its earnings results on Thursday, January 31st. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $256.75 million during the quarter, compared to analyst estimates of $253.53 million.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.44 annualized dividend and a yield of 4.37%.
In other Valley National Bancorp news, Director Gerald Korde sold 3,100 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $10.19, for a total transaction of $31,589.00. Following the sale, the director now directly owns 659,111 shares in the company, valued at approximately $6,716,341.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.45% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of Valley National Bancorp in the 1st quarter worth $29,000. JOYN Advisors Inc. boosted its stake in shares of Valley National Bancorp by 1,410.8% in the 4th quarter. JOYN Advisors Inc. now owns 3,928 shares of the financial services provider’s stock worth $35,000 after buying an additional 3,668 shares during the last quarter. Baldwin Brothers Inc. MA purchased a new position in shares of Valley National Bancorp in the 4th quarter worth $44,000. Bruderman Asset Management LLC purchased a new position in shares of Valley National Bancorp in the 4th quarter worth $52,000. Finally, NumerixS Investment Technologies Inc boosted its stake in shares of Valley National Bancorp by 742.9% in the 4th quarter. NumerixS Investment Technologies Inc now owns 5,900 shares of the financial services provider’s stock worth $52,000 after buying an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 55.94% of the company’s stock.
Valley National Bancorp Company Profile
Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.
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