Valley National Bancorp (NASDAQ:VLY – Free Report) had its price target cut by Wedbush from $9.00 to $8.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the stock. Wedbush also issued estimates for Valley National Bancorp’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.29 EPS and FY2025 earnings at $1.15 EPS.
VLY has been the topic of a number of other reports. TheStreet lowered Valley National Bancorp from a b- rating to a c+ rating in a research report on Tuesday, February 27th. Citigroup decreased their price objective on shares of Valley National Bancorp from $11.00 to $8.50 and set a neutral rating for the company in a report on Wednesday, March 13th. StockNews.com lowered shares of Valley National Bancorp from a hold rating to a sell rating in a research note on Friday, February 16th. JPMorgan Chase & Co. decreased their price target on Valley National Bancorp from $12.00 to $9.00 and set a neutral rating for the company in a research note on Thursday, April 4th. Finally, Morgan Stanley boosted their price objective on Valley National Bancorp from $8.50 to $9.00 and gave the company an underweight rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $9.33.
Check Out Our Latest Stock Report on VLY
Valley National Bancorp Stock Performance
Valley National Bancorp (NASDAQ:VLY – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $890.07 million for the quarter, compared to analysts’ expectations of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, sell-side analysts expect that Valley National Bancorp will post 0.93 EPS for the current fiscal year.
Valley National Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp’s payout ratio is 51.76%.
Insider Activity at Valley National Bancorp
In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the 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 of the company’s stock, valued at $4,460,136.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.88% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of VLY. Xponance Inc. boosted its position in shares of Valley National Bancorp by 2.1% during the fourth quarter. Xponance Inc. now owns 62,924 shares of the company’s stock worth $683,000 after buying an additional 1,286 shares during the period. Retirement Systems of Alabama boosted its position in Valley National Bancorp by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 534,111 shares of the company’s stock worth $5,800,000 after acquiring an additional 1,686 shares during the period. Arizona State Retirement System boosted its position in Valley National Bancorp by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 122,917 shares of the company’s stock worth $1,052,000 after acquiring an additional 1,693 shares during the period. Resources Management Corp CT ADV grew its stake in shares of Valley National Bancorp by 5.5% in the third quarter. Resources Management Corp CT ADV now owns 36,200 shares of the company’s stock worth $310,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Valley National Bancorp by 5.4% during the fourth quarter. Strs Ohio now owns 38,800 shares of the company’s stock valued at $421,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 61.00% of the company’s stock.
Valley National Bancorp Company Profile
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.
Recommended Stories
- Five stocks we like better than Valley National Bancorp
- Technology Stocks Explained: Here’s What to Know About Tech
- MarketBeat Week in Review – 4/22 – 4/26
- What is a Secondary Public Offering? What Investors Need to Know
- 3 Stocks Leading the U.S. Agriculture Comeback
- Which Wall Street Analysts are the Most Accurate?
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.