Analysts Set Valley National Bancorp (NASDAQ:VLY) Target Price at $10.67

Shares of Valley National Bancorp (NASDAQ:VLY) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $10.67.

Several research firms have recently weighed in on VLY. JPMorgan Chase & Co. raised their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Barclays upped their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Citigroup raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada raised their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the transaction, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at $5,056,492.29. The trade was a 9.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.88% of the company’s stock.

Institutional Investors Weigh In On Valley National Bancorp

A number of large investors have recently made changes to their positions in VLY. International Assets Investment Management LLC grew its position in shares of Valley National Bancorp by 557.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock worth $79,000 after buying an additional 7,358 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Valley National Bancorp by 18.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 42,549 shares of the company’s stock worth $385,000 after buying an additional 6,521 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Valley National Bancorp by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 49,422 shares of the company’s stock worth $447,000 after buying an additional 3,370 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Valley National Bancorp by 1.0% in the 3rd quarter. New York State Teachers Retirement System now owns 281,539 shares of the company’s stock worth $2,551,000 after buying an additional 2,791 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Valley National Bancorp in the 3rd quarter worth approximately $25,000. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Stock Down 1.0 %

VLY stock opened at $8.58 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $4.81 billion, a PE ratio of 12.43 and a beta of 1.11. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The stock has a 50-day simple moving average of $9.62 and a two-hundred day simple moving average of $9.48.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, equities analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.11 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 5.13%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 63.77%.

About Valley National Bancorp

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.