Morgan Stanley reaffirmed their equal weight rating on shares of Valley National Bancorp (NYSE:VLY) in a report published on Friday, July 7th. The firm currently has a $11.50 price target on the financial services provider’s stock, up from their previous price target of $11.00.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Valley National Bancorp from a hold rating to a buy rating and set a $13.00 price target for the company in a research note on Friday, April 7th. Stephens initiated coverage on Valley National Bancorp in a research note on Wednesday, April 5th. They set an equal weight rating for the company. BidaskClub upgraded Valley National Bancorp from a sell rating to a hold rating in a research note on Saturday, July 1st. Wedbush restated a neutral rating and set a $12.00 price target on shares of Valley National Bancorp in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $13.00 price target on shares of Valley National Bancorp in a research note on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $12.08.

Shares of Valley National Bancorp (VLY) traded down 0.50% during midday trading on Friday, hitting $11.85. 1,651,117 shares of the stock were exchanged. The firm has a 50 day moving average of $11.81 and a 200-day moving average of $11.87. Valley National Bancorp has a one year low of $9.09 and a one year high of $12.82. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 16.93 and a beta of 0.90.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. The business had revenue of $195.79 million during the quarter, compared to analysts’ expectations of $190.83 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. Equities analysts expect that Valley National Bancorp will post $0.71 EPS for the current year.

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In related news, Director Mary Guilfoile sold 5,140 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $11.92, for a total transaction of $61,268.80. Following the transaction, the director now owns 258,719 shares of the company’s stock, valued at $3,083,930.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in VLY. Comerica Bank raised its position in shares of Valley National Bancorp by 6.3% in the fourth quarter. Comerica Bank now owns 187,346 shares of the financial services provider’s stock worth $2,181,000 after buying an additional 11,029 shares in the last quarter. Teachers Advisors LLC raised its stake in Valley National Bancorp by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 439,942 shares of the financial services provider’s stock valued at $5,121,000 after buying an additional 9,760 shares during the period. Nisa Investment Advisors LLC raised its stake in Valley National Bancorp by 1.4% in the first quarter. Nisa Investment Advisors LLC now owns 120,441 shares of the financial services provider’s stock valued at $1,421,000 after buying an additional 1,700 shares during the period. Prudential Financial Inc. raised its stake in Valley National Bancorp by 109.0% in the first quarter. Prudential Financial Inc. now owns 330,094 shares of the financial services provider’s stock valued at $3,895,000 after buying an additional 172,120 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Valley National Bancorp by 34.0% in the first quarter. Alliancebernstein L.P. now owns 522,944 shares of the financial services provider’s stock valued at $6,171,000 after buying an additional 132,790 shares during the period. 61.63% of the stock is currently owned by hedge funds and other 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)

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