Valley National Bancorp (NYSE:VLY)‘s stock had its “neutral” rating restated by Piper Jaffray Companies in a research note issued on Wednesday. They currently have a $13.00 price target on the financial services provider’s stock, up from their previous price target of $12.00. Piper Jaffray Companies’ target price would suggest a potential upside of 11.21% from the stock’s previous close.

A number of other research firms also recently commented on VLY. BidaskClub downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine raised shares of Valley National Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Morgan Stanley reaffirmed 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. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Keefe, Bruyette & Woods raised shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.67.

Shares of Valley National Bancorp (VLY) traded down 1.27% during midday trading on Wednesday, hitting $11.69. 1,537,167 shares of the stock were exchanged. Valley National Bancorp has a 12 month low of $9.09 and a 12 month high of $12.82. The stock has a 50 day moving average price of $11.80 and a 200-day moving average price of $11.87. The company has a market cap of $3.09 billion, a PE ratio of 16.70 and a beta of 0.90.

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

TRADEMARK VIOLATION NOTICE: This story was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.watchlistnews.com/valley-national-bancorps-vly-neutral-rating-reaffirmed-at-piper-jaffray-companies/1466762.html.

In other Valley National Bancorp news, Director Mary Guilfoile sold 39,495 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the transaction, the director now directly owns 258,719 shares of the company’s stock, valued at approximately $3,081,343.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of VLY. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Valley National Bancorp by 9.8% in the second 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. MCF Advisors LLC acquired a new position in shares of Valley National Bancorp during the second quarter valued at about $118,000. HRT Financial LLC acquired a new position in shares of Valley National Bancorp during the second quarter valued at about $120,000. Ffcm LLC increased its position in shares of Valley National Bancorp by 222.4% in the second quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock valued at $124,000 after buying an additional 7,079 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in shares of Valley National Bancorp during the first quarter valued at about $138,000. 61.63% of the stock is currently 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)

Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.