Valley National Bancorp (NASDAQ:VLY) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings reiterated a "hold (C+)" rating for Valley National Bancorp, while Barclays and Citigroup provided more optimistic evaluations, raising price targets and offering "positive" and "buy" ratings, respectively.
• Valley National Bancorp's stock showed a slight increase of 0.1%, reaching $10.84, with a market cap of $6.07 billion and an average price target of $12.54 based on analyst consensus.
• Institutional investors own 61% of Valley National Bancorp's stock, reflecting significant interest from hedge funds and investment firms that have recently increased their holdings in the company.

Valley National Bancorp (NASDAQ:VLY - Get Free Report)'s stock had its "hold (c+)" rating reiterated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the stock. Barclays reissued a "positive" rating on shares of Valley National Bancorp in a research report on Wednesday. Citigroup raised shares of Valley National Bancorp from a "neutral" rating to a "buy" rating and raised their price target for the company from $10.00 to $13.50 in a research report on Monday, September 15th. Wall Street Zen raised shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. Finally, Cowen started coverage on shares of Valley National Bancorp in a research report on Wednesday, September 24th. They set a "buy" rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.54.

Valley National Bancorp Stock Up 0.1%

Shares of NASDAQ VLY traded up $0.01 during mid-day trading on Wednesday, reaching $10.84. 7,169,666 shares of the company's stock traded hands, compared to its average volume of 9,722,619. The stock has a market cap of $6.07 billion, a P/E ratio of 15.04 and a beta of 1.12. The business has a 50-day simple moving average of $10.27 and a 200 day simple moving average of $9.36. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $11.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $495.01 million during the quarter, compared to analysts' expectations of $495.79 million. Valley National Bancorp had a net margin of 12.87% and a return on equity of 5.89%. The business's revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. On average, analysts expect that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Institutional Trading of Valley National Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of VLY. Wealth Enhancement Advisory Services LLC raised its position in shares of Valley National Bancorp by 5.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,674 shares of the company's stock valued at $405,000 after purchasing an additional 2,125 shares during the period. GAMMA Investing LLC raised its position in shares of Valley National Bancorp by 988.5% in the first quarter. GAMMA Investing LLC now owns 82,899 shares of the company's stock valued at $737,000 after purchasing an additional 75,283 shares during the period. Merit Financial Group LLC bought a new stake in shares of Valley National Bancorp in the first quarter valued at approximately $260,000. UMB Bank n.a. raised its position in shares of Valley National Bancorp by 219.6% in the first quarter. UMB Bank n.a. now owns 5,571 shares of the company's stock valued at $50,000 after purchasing an additional 3,828 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Valley National Bancorp by 206.6% in the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock valued at $38,000 after purchasing an additional 2,896 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.

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