Shares of Valley National Bancorp (NASDAQ:VLY – Get Free Report) have earned a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $15.2333.
A number of equities analysts have issued reports on VLY shares. Keefe, Bruyette & Woods boosted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Piper Sandler boosted their price objective on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “overweight” rating in a research report on Friday. 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 research note on Tuesday, May 26th. TD Cowen reaffirmed a “buy” rating on shares of Valley National Bancorp in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 24th.
View Our Latest Analysis on VLY
Valley National Bancorp Price Performance
Valley National Bancorp (NASDAQ:VLY – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $531.89 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. As a group, equities analysts predict that Valley National Bancorp will post 1.29 earnings per share for the current year.
Valley National Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.0%. Valley National Bancorp’s payout ratio is presently 39.64%.
Insider Transactions at Valley National Bancorp
In other news, COO Russell Barrett sold 90,537 shares of Valley National Bancorp stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $13.54, for a total transaction of $1,225,870.98. Following the sale, the chief operating officer owned 64,167 shares of the company’s stock, valued at approximately $868,821.18. The trade was a 58.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mitchell L. Crandell sold 25,495 shares of Valley National Bancorp stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the sale, the chief accounting officer directly owned 76,116 shares in the company, valued at $1,113,577.08. The trade was a 25.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.06% of the company’s stock.
Institutional Investors Weigh In On Valley National Bancorp
Several hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its position in Valley National Bancorp by 24.5% during the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock valued at $51,000 after purchasing an additional 855 shares during the period. Ritholtz Wealth Management lifted its position in Valley National Bancorp by 5.6% during the fourth quarter. Ritholtz Wealth Management now owns 16,652 shares of the company’s stock valued at $194,000 after purchasing an additional 888 shares during the period. Bank of Montreal Can lifted its position in Valley National Bancorp by 2.1% during the fourth quarter. Bank of Montreal Can now owns 43,940 shares of the company’s stock valued at $513,000 after purchasing an additional 918 shares during the period. Rothschild Investment LLC lifted its position in Valley National Bancorp by 7.3% during the fourth quarter. Rothschild Investment LLC now owns 13,592 shares of the company’s stock valued at $159,000 after purchasing an additional 923 shares during the period. Finally, Vident Advisory LLC lifted its position in Valley National Bancorp by 9.1% during the fourth quarter. Vident Advisory LLC now owns 11,760 shares of the company’s stock valued at $137,000 after purchasing an additional 983 shares during the period. Institutional investors own 61.00% of the company’s stock.
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.
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