Barclays Forecasts Strong Price Appreciation for Valley National Bancorp (NASDAQ:VLY) Stock

Valley National Bancorp (NASDAQ:VLY – Get Free Report) had its target price boosted by stock analysts at Barclays from $15.00 to $17.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 17.86% from the company’s previous close.

Several other research firms also recently weighed in on VLY. Cantor Fitzgerald upped their price target on Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. UBS Group lifted their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Weiss Ratings raised shares of Valley National Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Morgan Stanley upped their target price on shares of Valley National Bancorp from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $17.00 target price on shares of Valley National Bancorp in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.86.

Check Out Our Latest Stock Report on Valley National Bancorp

Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded down $0.03 during mid-day trading on Tuesday, reaching $14.42. The company’s stock had a trading volume of 164,261 shares, compared to its average volume of 7,112,621. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.95 and a quick ratio of 0.95. Valley National Bancorp has a 52 week low of $10.34 and a 52 week high of $15.20. The stock has a fifty day moving average of $13.39 and a two-hundred day moving average of $13.45. The firm has a market capitalization of $7.97 billion, a PE ratio of 11.41 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last issued its earnings results on Thursday, October 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $581.10 million for the quarter, compared to the consensus estimate of $577.82 million. Valley National Bancorp had a return on equity of 9.63% and a net margin of 20.44%. During the same quarter last year, the company earned $0.28 EPS. As a group, sell-side analysts anticipate that Valley National Bancorp will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VLY. Compass Financial Management LLC purchased a new position in shares of Valley National Bancorp in the second quarter valued at $28,000. Cedar Mountain Advisors LLC purchased a new stake in Valley National Bancorp during the first quarter valued at $26,000. Assetmark Inc. raised its stake in Valley National Bancorp by 123.7% during 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 in the last quarter. Root Financial Partners LLC raised its stake in Valley National Bancorp by 127.3% during the first quarter. Root Financial Partners LLC now owns 3,976 shares of the company’s stock valued at $49,000 after purchasing an additional 2,227 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Valley National Bancorp by 41.8% during the first quarter. Parallel Advisors LLC now owns 6,163 shares of the company’s stock valued at $76,000 after purchasing an additional 1,816 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Company Profile

(Get Free Report)

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional bank headquartered in Wayne, New Jersey. The company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities through a network of branches and digital banking channels.

Valley National Bank offers deposit accounts, residential and commercial real estate lending, business loans, consumer loans, mortgage banking, treasury management and other commercial banking services.

Further Reading

Analyst Recommendations for Valley National Bancorp (NASDAQ:VLY)

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