Valley National Bancorp (NASDAQ:VLY) Receives $16.03 Consensus Price Target from Analysts

Shares of Valley National Bancorp (NASDAQ:VLY) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.0333.

Several equities analysts have issued reports on VLY shares. UBS Group set a $17.00 price objective on shares of Valley National Bancorp in a research note on Tuesday, July 7th. Truist Financial raised their target price on shares of Valley National Bancorp from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Friday, July 10th. Barclays lifted their target price on shares of Valley National Bancorp from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Royal Bank Of Canada boosted their price target on shares of Valley National Bancorp from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Hovde Group increased their price target on shares of Valley National Bancorp from $16.00 to $16.50 and gave the stock an “outperform” rating in a report on Tuesday, May 26th.

Insider Activity at Valley National Bancorp

In other news, CAO Mitchell L. Crandell sold 25,495 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $14.63, for a total value of $372,991.85. Following the completion of the sale, the chief accounting officer directly owned 76,116 shares of the company’s stock, valued at $1,113,577.08. This trade represents a 25.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Valley National Bancorp by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock valued at $2,508,000 after acquiring an additional 15,771 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Valley National Bancorp during the 1st quarter worth $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Valley National Bancorp by 21.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock worth $12,852,000 after purchasing an additional 255,870 shares during the period. Focus Partners Wealth grew its stake in shares of Valley National Bancorp by 34.9% during the 1st quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock worth $541,000 after purchasing an additional 15,761 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Valley National Bancorp in the 2nd quarter valued at about $119,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 2.2%

Shares of VLY stock opened at $14.12 on Friday. The company has a market capitalization of $7.80 billion, a P/E ratio of 11.97 and a beta of 1.04. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $14.58 and its two-hundred day moving average is $13.58. Valley National Bancorp has a twelve month low of $9.64 and a twelve month high of $15.20.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The company had revenue of $560.74 million for the quarter, compared to analysts’ expectations of $557.16 million. During the same quarter last year, the company earned $0.23 EPS. Valley National Bancorp’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts forecast that Valley National Bancorp will post 1.28 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 annualized dividend and a yield of 3.1%. Valley National Bancorp’s payout ratio is presently 37.29%.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.