Valley National Bancorp (NASDAQ:VLY - Free Report) - Research analysts at Wedbush decreased their Q2 2024 EPS estimates for shares of Valley National Bancorp in a research note issued on Thursday, April 25th. Wedbush analyst D. Chiaverini now anticipates that the company will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.22. Wedbush currently has a "Neutral" rating and a $8.00 target price on the stock. The consensus estimate for Valley National Bancorp's current full-year earnings is $0.90 per share. Wedbush also issued estimates for Valley National Bancorp's 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.
Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Valley National Bancorp from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, April 4th. Barclays started coverage on shares of Valley National Bancorp in a report on Friday, March 8th. They set an "underweight" rating and a $8.00 price objective for the company. StockNews.com lowered Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, February 16th. Morgan Stanley increased their price objective on shares of Valley National Bancorp from $8.50 to $9.00 and gave the stock an "underweight" rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reduced their target price on shares of Valley National Bancorp from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.33.
Get Our Latest Research Report on Valley National Bancorp
Valley National Bancorp Stock Down 2.7 %
NASDAQ VLY traded down $0.20 on Monday, reaching $7.12. The stock had a trading volume of 6,616,651 shares, compared to its average volume of 6,262,821. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 8.61 and a beta of 1.09. Valley National Bancorp has a 1 year low of $6.39 and a 1 year high of $11.22. The business has a 50 day moving average price of $7.81 and a 200 day moving average price of $8.82.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The company had revenue of $890.07 million for the quarter, compared to analysts' expectations of $447.38 million. During the same period in the prior year, the company earned $0.30 earnings per share.
Hedge Funds Weigh In On Valley National Bancorp
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Valley National Bancorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 45,625,380 shares of the company's stock valued at $495,492,000 after buying an additional 198,236 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Valley National Bancorp by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 24,889,858 shares of the company's stock worth $270,309,000 after purchasing an additional 1,257,800 shares during the last quarter. American Century Companies Inc. boosted its holdings in Valley National Bancorp by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 13,025,530 shares of the company's stock worth $111,499,000 after buying an additional 920,140 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Valley National Bancorp by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,294,793 shares of the company's stock valued at $68,361,000 after acquiring an additional 259,796 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Valley National Bancorp by 3.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,093,370 shares of the company's stock worth $55,314,000 after acquiring an additional 161,121 shares during the last quarter. 61.00% of the stock is owned by institutional investors.
Insider Activity at Valley National Bancorp
In other news, EVP Joseph Chillura sold 49,715 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the transaction, the executive vice president now owns 545,249 shares in the company, valued at approximately $4,460,136.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.88% of the stock is owned by insiders.
Valley National Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 6.18%. Valley National Bancorp's dividend payout ratio is presently 51.76%.
Valley National Bancorp Company Profile
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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.
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