Brokerages Set Valley National Bancorp (NASDAQ:VLY) PT at $9.67

Valley National Bancorp (NASDAQ:VLY) has been given an average rating of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.67.

VLY has been the subject of a number of research analyst reports. TheStreet lowered Valley National Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Keefe, Bruyette & Woods cut their price target on Valley National Bancorp from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 26th. JPMorgan Chase & Co. cut their price target on Valley National Bancorp from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, Morgan Stanley upped their price target on Valley National Bancorp from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th.

Valley National Bancorp Stock Up 1.9 %

VLY opened at $7.86 on Tuesday. The business has a 50 day moving average price of $7.87 and a 200 day moving average price of $8.83. Valley National Bancorp has a twelve month low of $6.39 and a twelve month high of $11.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $4.00 billion, a P/E ratio of 8.27 and a beta of 1.09.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, January 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). Valley National Bancorp had a return on equity of 8.67% and a net margin of 14.82%. The company had revenue of $449.97 million during the quarter, compared to analyst estimates of $467.49 million. During the same quarter last year, the firm posted $0.35 earnings per share. Research analysts forecast that Valley National Bancorp will post 0.93 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were paid a $0.11 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.60%. Valley National Bancorp’s payout ratio is 46.32%.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the sale, the executive vice president now directly owns 545,249 shares in the company, valued at $4,460,136.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.88% of the company’s stock.

Institutional Trading of Valley National Bancorp

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in Valley National Bancorp in the fourth quarter valued at $35,000. Wolverine Asset Management LLC bought a new stake in Valley National Bancorp in the fourth quarter valued at $40,000. Stratos Wealth Partners LTD. bought a new stake in shares of Valley National Bancorp during the third quarter worth $93,000. Jump Financial LLC bought a new stake in shares of Valley National Bancorp during the third quarter worth $93,000. Finally, Janiczek Wealth Management LLC grew its holdings in shares of Valley National Bancorp by 23.7% during the third quarter. Janiczek Wealth Management LLC now owns 12,816 shares of the company’s stock worth $110,000 after purchasing an additional 2,454 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

About Valley National Bancorp

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.