Valley National Bancorp (VLY) Rating Lowered to Hold at Sandler O’Neill
Valley National Bancorp (NYSE:VLY) was downgraded by equities researchers at Sandler O’Neill from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
Several other research analysts also recently issued reports on VLY. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 24th. Piper Jaffray Cos. cut shares of Valley National Bancorp from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $9.50 in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $9.50.
Valley National Bancorp (NYSE:VLY) opened at 11.25 on Monday. Valley National Bancorp has a one year low of $8.31 and a one year high of $11.24. The firm has a market capitalization of $2.86 billion, a PE ratio of 24.51 and a beta of 0.79. The company has a 50 day moving average price of $9.78 and a 200-day moving average price of $9.40.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Valley National Bancorp had a return on equity of 7.36% and a net margin of 14.51%. During the same quarter in the prior year, the business posted $0.15 EPS. On average, equities analysts predict that Valley National Bancorp will post $0.63 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in VLY. Parametrica Management Ltd acquired a new position in Valley National Bancorp during the second quarter worth approximately $104,000. Mercer Capital Advisers Inc. acquired a new position in Valley National Bancorp during the second quarter worth approximately $112,000. LS Investment Advisors LLC increased its position in Valley National Bancorp by 77.0% in the second quarter. LS Investment Advisors LLC now owns 13,448 shares of the financial services provider’s stock worth $123,000 after buying an additional 5,850 shares in the last quarter. Riverhead Capital Management LLC increased its position in Valley National Bancorp by 510.8% in the third quarter. Riverhead Capital Management LLC now owns 12,900 shares of the financial services provider’s stock worth $126,000 after buying an additional 10,788 shares in the last quarter. Finally, Williams Jones & Associates LLC acquired a new position in Valley National Bancorp during the second quarter worth approximately $128,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.
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.
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