Valley National Bancorp (NASDAQ:VLY) Given Consensus Recommendation of "Hold" by Brokerages

Valley National Bancorp (NASDAQ:VLY - Get Free Report) has been assigned a consensus rating of "Hold" from the eleven research firms that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.55.

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

Valley National Bancorp Stock Performance

VLY opened at $8.53 on Friday. The firm has a fifty day moving average price of $8.68 and a 200 day moving average price of $9.21. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The stock has a market cap of $4.78 billion, a P/E ratio of 12.36 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 5.14% and a net margin of 10.62%. The firm had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same quarter last year, the company posted $0.19 EPS. Equities research analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.11 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 5.16%. Valley National Bancorp's dividend payout ratio (DPR) is 63.77%.

Institutional Investors Weigh In On Valley National Bancorp

Large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in shares of Valley National Bancorp during the first quarter worth about $420,000. Intech Investment Management LLC increased its position in shares of Valley National Bancorp by 40.7% in the 1st quarter. Intech Investment Management LLC now owns 502,987 shares of the company's stock valued at $4,472,000 after purchasing an additional 145,549 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Valley National Bancorp by 34.9% in the 1st quarter. Focus Partners Wealth now owns 60,868 shares of the company's stock valued at $541,000 after purchasing an additional 15,761 shares in the last quarter. Bayforest Capital Ltd grew its stake in shares of Valley National Bancorp by 870.4% during the first quarter. Bayforest Capital Ltd now owns 60,000 shares of the company's stock worth $533,000 after purchasing an additional 53,817 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Valley National Bancorp by 21.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company's stock valued at $12,852,000 after buying an additional 255,870 shares during the last quarter. Hedge funds and other institutional investors 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.

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