Valley National Bancorp (NASDAQ:VLY) Receives Consensus Rating of "Hold" from Brokerages

Shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) have been assigned an average rating of "Hold" from the eleven brokerages that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $10.55.

Several analysts recently issued reports on VLY shares. Wall Street Zen downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Truist Financial started coverage on Valley National Bancorp in a research note on Tuesday, May 13th. They issued a "hold" rating and a $10.00 price target for the company. Jefferies Financial Group started coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $10.00 price target for the company. Barclays reduced their price target on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a research note on Monday, March 24th.

Valley National Bancorp Stock Up 1.8%

Shares of NASDAQ:VLY traded up $0.15 during trading on Friday, hitting $8.57. 9,428,685 shares of the company were exchanged, compared to its average volume of 7,694,680. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 12.42 and a beta of 1.06. Valley National Bancorp has a fifty-two week low of $6.50 and a fifty-two week high of $11.10. The firm has a fifty day moving average price of $8.69 and a two-hundred day moving average price of $9.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its 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). The business had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. Valley National Bancorp had a return on equity of 5.12% and a net margin of 11.03%. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 5.13%. Valley National Bancorp's payout ratio is 63.77%.

Institutional Investors Weigh In On Valley National Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in VLY. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Valley National Bancorp during the 1st quarter valued at about $35,000. Farther Finance Advisors LLC boosted its position in shares of Valley National Bancorp by 206.6% during the 1st 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 in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Valley National Bancorp during the 4th quarter valued at about $39,000. Brown Lisle Cummings Inc. bought a new stake in shares of Valley National Bancorp during the 1st quarter valued at about $39,000. Finally, Optiver Holding B.V. boosted its holdings in Valley National Bancorp by 80.9% in the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock worth $46,000 after acquiring an additional 2,271 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 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.