Valley National Bancorp (NASDAQ:VLY) Given Average Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Valley National Bancorp (NASDAQ:VLY – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $16.1667.

A number of brokerages have recently weighed in on VLY. Cantor Fitzgerald raised their price objective on Valley National Bancorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Valley National Bancorp in a research report on Monday, July 6th. TD Cowen reiterated a “buy” rating on shares of Valley National Bancorp in a research note on Wednesday, June 17th. Hovde Group lifted their target price on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Valley National Bancorp in a research note on Wednesday, August 26th.

Get Our Latest Stock Analysis on VLY

Valley National Bancorp Stock Down 0.4%

Valley National Bancorp stock opened at $13.80 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. Valley National Bancorp has a one year low of $9.64 and a one year high of $15.20. The stock has a market cap of $7.63 billion, a PE ratio of 11.70 and a beta of 1.03. The stock has a fifty day moving average of $14.40 and a 200 day moving average of $13.64.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. 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 firm posted $0.23 earnings per share. Valley National Bancorp’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts predict that Valley National Bancorp will post 1.28 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Valley National Bancorp’s dividend payout ratio (DPR) is currently 37.29%.

Institutional Trading of Valley National Bancorp

Hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in shares of Valley National Bancorp by 22.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 75,084 shares of the company’s stock worth $1,100,000 after purchasing an additional 13,729 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Valley National Bancorp by 24.3% during the second quarter. Tidal Investments LLC now owns 69,997 shares of the company’s stock worth $1,025,000 after purchasing an additional 13,687 shares in the last quarter. IFP Advisors Inc increased its holdings in Valley National Bancorp by 239.5% in the second quarter. IFP Advisors Inc now owns 8,478 shares of the company’s stock valued at $124,000 after buying an additional 5,981 shares during the last quarter. Allworth Financial LP raised its stake in Valley National Bancorp by 2.3% in the second quarter. Allworth Financial LP now owns 68,078 shares of the company’s stock valued at $997,000 after buying an additional 1,518 shares in the last quarter. Finally, Waverly Advisors LLC raised its position in shares of Valley National Bancorp by 5.8% during the 2nd quarter. Waverly Advisors LLC now owns 21,744 shares of the company’s stock worth $319,000 after acquiring an additional 1,198 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Company Profile

(Get Free Report)

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional financial institution headquartered in Wayne, New Jersey. Founded in 1927, the company provides banking and financial services to consumers, businesses, commercial real estate clients and municipalities.

Valley National Bank offers deposit accounts, consumer and business lending, commercial and industrial loans, commercial real estate financing, residential mortgages, home equity products, and treasury management services.

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