Valley National Bancorp (NASDAQ:VLY) Coverage Initiated at Jefferies Financial Group

Investment analysts at Jefferies Financial Group assumed coverage on shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set a "hold" rating and a $10.00 price target on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 14.94% from the company's previous close.

Several other brokerages have also recently weighed in on VLY. Royal Bank of Canada raised their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Wall Street Zen lowered Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. Barclays cut their price objective on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Piper Sandler raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $10.55.

Valley National Bancorp Stock Up 0.1%

Shares of NASDAQ VLY traded up $0.01 during mid-day trading on Wednesday, reaching $8.70. 8,485,060 shares of the company's stock were exchanged, compared to its average volume of 7,460,757. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 12.61 and a beta of 1.05. The business has a fifty day simple moving average of $8.65 and a 200 day simple moving average of $9.36.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. The company had revenue of $479.67 million during the quarter, compared to the consensus estimate of $483.98 million. During the same period in the previous year, the firm posted $0.19 EPS. As a group, equities analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Institutional Trading of Valley National Bancorp

A number of institutional investors have recently modified their holdings of VLY. Vanguard Group Inc. raised its stake in Valley National Bancorp by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock worth $453,020,000 after buying an additional 4,204,651 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Valley National Bancorp by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company's stock valued at $267,054,000 after purchasing an additional 1,377,676 shares during the period. Wellington Management Group LLP raised its holdings in Valley National Bancorp by 90.2% in the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after purchasing an additional 8,088,466 shares in the last quarter. Geode Capital Management LLC lifted its position in Valley National Bancorp by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 11,821,134 shares of the company's stock valued at $107,122,000 after buying an additional 656,200 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Valley National Bancorp by 101.5% during the 1st quarter. AQR Capital Management LLC now owns 10,218,329 shares of the company's stock valued at $89,308,000 after buying an additional 5,147,786 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

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.