Analysts Set Valley National Bancorp (NASDAQ:VLY) Target Price at $16.10

Valley National Bancorp (NASDAQ:VLY) has been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.1667.

Several research analysts recently weighed in on the company. National Bank Financial set a $17.50 target price on Valley National Bancorp in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Valley National Bancorp in a research note on Monday, July 6th. Truist Financial boosted their target price on shares of Valley National Bancorp from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Friday, July 10th. JPMorgan Chase & Co. cut their target price on shares of Valley National Bancorp from $17.50 to $17.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Finally, Piper Sandler raised their target price on shares of Valley National Bancorp from $16.00 to $16.50 and gave the stock an “overweight” rating in a report on Friday, June 26th.

Valley National Bancorp Stock Up 0.7%

Valley National Bancorp stock opened at $13.85 on Tuesday. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 11.74 and a beta of 1.03. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $14.42 and its two-hundred day moving average price is $13.64. Valley National Bancorp has a 52 week low of $9.64 and a 52 week high of $15.20.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The company had revenue of $560.74 million during the quarter, compared to analyst estimates of $557.16 million. Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. On average, analysts expect that Valley National Bancorp will post 1.28 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.2%. Valley National Bancorp’s payout ratio is 37.29%.

Institutional Trading of Valley National Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC purchased a new stake in shares of Valley National Bancorp in the 1st quarter valued at approximately $26,000. Assetmark Inc. grew its position in Valley National Bancorp by 123.7% during the 1st quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock worth $26,000 after purchasing an additional 1,189 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Valley National Bancorp during the 4th quarter valued at $26,000. Compass Financial Management LLC acquired a new stake in Valley National Bancorp during the 2nd quarter valued at $28,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Valley National Bancorp by 127.3% in 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. Institutional investors and hedge funds own 61.00% of the company’s stock.

About Valley National Bancorp

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional financial institution headquartered in Wayne, New Jersey. Founded in 1927, the company provides banking and financial services to consumers, businesses, commercial real estate clients and municipalities.

Valley National Bank offers deposit accounts, consumer and business lending, commercial and industrial loans, commercial real estate financing, residential mortgages, home equity products, and treasury management services.