Valley National Bancorp (NASDAQ:VLY) Given New $9.00 Price Target at JPMorgan Chase & Co.

Valley National Bancorp (NASDAQ:VLY - Free Report) had its target price decreased by JPMorgan Chase & Co. from $12.00 to $9.00 in a report released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on VLY. Wedbush reduced their price target on shares of Valley National Bancorp from $12.00 to $11.00 and set a neutral rating on the stock in a research report on Friday, January 26th. TheStreet cut shares of Valley National Bancorp from a b- rating to a c+ rating in a research report on Tuesday, February 27th. Barclays began coverage on shares of Valley National Bancorp in a research report on Friday, March 8th. They set an underweight rating and a $8.00 price target on the stock. Citigroup reduced their price target on shares of Valley National Bancorp from $11.00 to $8.50 and set a neutral rating on the stock in a research report on Wednesday, March 13th. Finally, StockNews.com cut shares of Valley National Bancorp from a hold rating to a sell rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of Hold and a consensus price target of $9.90.

Valley National Bancorp Trading Down 2.2 %

VLY stock traded down $0.17 during midday trading on Thursday, reaching $7.47. The company's stock had a trading volume of 6,029,962 shares, compared to its average volume of 6,349,613. Valley National Bancorp has a 52 week low of $6.39 and a 52 week high of $11.22. The stock has a market cap of $3.80 billion, a PE ratio of 8.04 and a beta of 1.09. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The business's 50-day simple moving average is $8.32 and its 200-day simple moving average is $8.91.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.03). Valley National Bancorp had a net margin of 14.82% and a return on equity of 8.67%. The business had revenue of $449.97 million during the quarter, compared to the consensus estimate of $467.49 million. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts expect that Valley National Bancorp will post 0.97 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.44 annualized dividend and a yield of 5.89%. Valley National Bancorp's dividend payout ratio (DPR) is presently 46.32%.

Insiders Place Their Bets

In other Valley National Bancorp news, EVP Joseph Chillura sold 49,715 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $8.18, for a total transaction of $406,668.70. Following the sale, the executive vice president now directly owns 545,249 shares of the company's stock, valued at approximately $4,460,136.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.71% of the company's stock.

Institutional Investors Weigh In On Valley National Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Trexquant Investment LP raised its holdings in Valley National Bancorp by 111.5% in the 3rd quarter. Trexquant Investment LP now owns 70,824 shares of the company's stock valued at $606,000 after acquiring an additional 37,331 shares during the period. Wellington Management Group LLP raised its holdings in Valley National Bancorp by 107.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,443,543 shares of the company's stock valued at $38,037,000 after acquiring an additional 2,301,128 shares during the period. UBS Group AG raised its holdings in Valley National Bancorp by 155.7% in the 3rd quarter. UBS Group AG now owns 308,603 shares of the company's stock valued at $2,642,000 after acquiring an additional 187,917 shares during the period. Sei Investments Co. raised its holdings in Valley National Bancorp by 10.6% in the 3rd quarter. Sei Investments Co. now owns 1,455,237 shares of the company's stock valued at $12,457,000 after acquiring an additional 138,906 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Valley National Bancorp by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 45,427,144 shares of the company's stock valued at $388,856,000 after acquiring an additional 356,880 shares during the period. 61.00% of the stock is owned by 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.