Stock analysts at Royal Bank of Canada began coverage on shares of Valley National Bancorp (NYSE:VLY) in a research report issued on Thursday. The brokerage set an “outperform” rating and a $14.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 22.48% from the stock’s previous close.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $13.00 target price on shares of Valley National Bancorp in a report on Friday, September 29th. Zacks Investment Research upgraded Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Valley National Bancorp currently has an average rating of “Hold” and a consensus price target of $12.86.

Shares of Valley National Bancorp (NYSE:VLY) opened at $11.43 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $3,050.83, a price-to-earnings ratio of 16.25 and a beta of 0.89. Valley National Bancorp has a twelve month low of $10.61 and a twelve month high of $12.82.

Valley National Bancorp (NYSE:VLY) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $193.00 million for the quarter, compared to analysts’ expectations of $195.03 million. Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. equities analysts forecast that Valley National Bancorp will post 0.69 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Valley National Bancorp by 2.1% during the second quarter. Vanguard Group Inc. now owns 21,880,605 shares of the financial services provider’s stock worth $258,410,000 after purchasing an additional 448,524 shares in the last quarter. Crawford Investment Counsel Inc. increased its position in shares of Valley National Bancorp by 5.1% during the second quarter. Crawford Investment Counsel Inc. now owns 196,413 shares of the financial services provider’s stock worth $2,320,000 after purchasing an additional 9,470 shares in the last quarter. Rhumbline Advisers increased its position in shares of Valley National Bancorp by 2.2% during the second quarter. Rhumbline Advisers now owns 548,774 shares of the financial services provider’s stock worth $6,481,000 after purchasing an additional 11,838 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Valley National Bancorp by 8.5% during the second quarter. Capital Advisors Inc. OK now owns 1,138,475 shares of the financial services provider’s stock worth $13,445,000 after purchasing an additional 88,936 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its position in shares of Valley National Bancorp by 22.0% during the third quarter. Chicago Equity Partners LLC now owns 637,215 shares of the financial services provider’s stock worth $7,678,000 after purchasing an additional 114,780 shares in the last quarter. 63.83% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Valley National Bancorp (NYSE:VLY)

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