Analysts Set Valley National Bancorp (NASDAQ:VLY) PT at $14.71

Valley National Bancorp (NASDAQ:VLY) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $14.7143.

A number of brokerages have recently issued reports on VLY. UBS Group began coverage on Valley National Bancorp in a research note on Monday, December 15th. They set a “buy” rating and a $15.00 price objective on the stock. Cantor Fitzgerald upped their price objective on Valley National Bancorp from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Weiss Ratings upgraded Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Royal Bank Of Canada upped their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Barclays upped their price objective on Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, Director Carlos J. Vazquez purchased 2,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $13.45 per share, with a total value of $33,625.00. Following the acquisition, the director directly owned 4,252 shares of the company’s stock, valued at $57,189.40. This trade represents a 142.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Valley National Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Valley National Bancorp by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 30,478,489 shares of the company’s stock valued at $323,072,000 after purchasing an additional 88,894 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Valley National Bancorp by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 13,029,085 shares of the company’s stock valued at $152,200,000 after purchasing an additional 247,651 shares during the last quarter. Azora Capital LP acquired a new stake in Valley National Bancorp during the 3rd quarter valued at $103,120,000. Victory Capital Management Inc. lifted its holdings in Valley National Bancorp by 9.2% during the 3rd quarter. Victory Capital Management Inc. now owns 8,333,597 shares of the company’s stock valued at $88,336,000 after purchasing an additional 702,774 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Valley National Bancorp by 1,013.8% during the 4th quarter. Marshall Wace LLP now owns 6,831,049 shares of the company’s stock valued at $79,787,000 after purchasing an additional 6,217,716 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Trading Up 0.4%

Shares of Valley National Bancorp stock opened at $13.11 on Friday. Valley National Bancorp has a 12-month low of $7.77 and a 12-month high of $13.87. The stock has a market cap of $7.28 billion, a P/E ratio of 12.98 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $12.68 and its 200-day moving average is $11.81.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $524.31 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, March 13th. Valley National Bancorp’s dividend payout ratio is 43.56%.

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.