Valley National Bancorp (NASDAQ:VLY) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Valley National Bancorp (NASDAQ:VLY) has been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $16.27.

A number of research analysts have weighed in on the company. Truist Financial increased their price target on 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 upped their target price on Valley National Bancorp from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods increased their target price on Valley National Bancorp from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Tuesday. Morgan Stanley reduced their target price on Valley National Bancorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. Finally, National Bank Financial set a $15.50 price target on Valley National Bancorp in a research note on Thursday, October 1st.

Institutional Investors Weigh In On Valley National Bancorp

A number of institutional investors have recently bought and sold shares of VLY. GAMMA Investing LLC lifted its holdings in shares of Valley National Bancorp by 5.7% during the 2nd quarter. GAMMA Investing LLC now owns 15,999 shares of the company’s stock valued at $234,000 after acquiring an additional 863 shares in the last quarter. Waverly Advisors LLC raised its position in Valley National Bancorp by 5.8% in the first quarter. Waverly Advisors LLC now owns 20,546 shares of the company’s stock valued at $252,000 after purchasing an additional 1,124 shares during the period. Assetmark Inc. raised its position in Valley National Bancorp by 123.7% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after purchasing an additional 1,189 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Valley National Bancorp by 3.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 38,985 shares of the company’s stock worth $455,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Valley National Bancorp by 2.3% during the second quarter. Allworth Financial LP now owns 68,078 shares of the company’s stock worth $997,000 after purchasing an additional 1,518 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY opened at $12.62 on Friday. The company has a 50-day simple moving average of $13.78 and a 200-day simple moving average of $13.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $6.97 billion, a PE ratio of 10.70 and a beta of 1.07. Valley National Bancorp has a 12 month low of $9.64 and a 12 month high of $15.20.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). The firm had revenue of $560.74 million for the quarter, compared to analysts’ expectations of $557.16 million. Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. On average, equities analysts anticipate that Valley National Bancorp will post 1.27 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 15th. Valley National Bancorp’s dividend payout ratio is presently 37.29%.

About Valley National Bancorp

Valley National Bancorp is the bank holding company for Valley National Bank, a regional financial institution headquartered in Wayne, New Jersey. Founded in 1927, the company provides banking and related financial services to individuals, businesses and institutions.

Valley National Bank offers a range of consumer and commercial products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, commercial and industrial lending, consumer loans, mortgages and treasury management services.