Analysts Set Valley National Bancorp (VLY) Target Price at $12.60
Shares of Valley National Bancorp (NYSE:VLY) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $12.60.
Several analysts have recently commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $12.00 target price on shares of Valley National Bancorp in a research report on Tuesday, June 27th. BidaskClub raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Hovde Group raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 target price for the company in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a research report on Thursday, July 27th.
Shares of Valley National Bancorp (NYSE VLY) traded up 0.89% during mid-day trading on Tuesday, hitting $11.30. The company’s stock had a trading volume of 694,648 shares. The stock has a 50-day moving average of $11.68 and a 200-day moving average of $11.84. Valley National Bancorp has a 12-month low of $9.23 and a 12-month high of $12.82. The company has a market cap of $2.98 billion, a PE ratio of 16.14 and a beta of 0.90.
Valley National Bancorp (NYSE:VLY) last issued its 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. The business had revenue of $195.79 million during the quarter, compared to analysts’ expectations of $190.83 million. Valley National Bancorp had a return on equity of 8.39% and a net margin of 20.73%. During the same quarter last year, the firm posted $0.15 earnings per share. On average, equities research analysts forecast that Valley National Bancorp will post $0.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.44 annualized dividend and a dividend yield of 3.93%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 62.86%.
In related news, Director Mary Guilfoile sold 5,140 shares of Valley National Bancorp 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 completion of the sale, the director now owns 258,719 shares of the company’s stock, valued at $3,083,930.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.07% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 worth $108,000 after buying an additional 817 shares during the last quarter. Advisor Group Inc. boosted its stake in Valley National Bancorp by 26.2% in the second quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock worth $115,000 after buying an additional 2,031 shares during the last quarter. MCF Advisors LLC purchased a new stake in Valley National Bancorp during the second quarter worth about $118,000. HRT Financial LLC purchased a new stake in Valley National Bancorp during the second quarter worth about $120,000. Finally, Ffcm LLC boosted its stake in Valley National Bancorp by 222.4% in the second quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock worth $124,000 after buying an additional 7,079 shares during the last quarter. 62.47% of the stock is owned by hedge funds and other institutional investors.
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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