Brokerages Set Valley National Bancorp (NASDAQ:VLY) Price Target at $10.73

Shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) have received an average rating of "Hold" from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.73.

A number of brokerages recently issued reports on VLY. Truist Financial initiated coverage on Valley National Bancorp in a research report on Tuesday, May 13th. They set a "hold" rating and a $10.00 price target on the stock. Piper Sandler raised 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. Wall Street Zen downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Jefferies Financial Group began coverage on shares of Valley National Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $10.00 target price for the company. Finally, Morgan Stanley upgraded shares of Valley National Bancorp from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $10.00 to $11.00 in a research report on Thursday, July 3rd.

Hedge Funds Weigh In On Valley National Bancorp

Large investors have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Valley National Bancorp in the first quarter valued at about $35,000. Farther Finance Advisors LLC raised its position in 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 last quarter. Point72 Hong Kong Ltd bought a new position in shares of Valley National Bancorp during the fourth quarter worth about $39,000. Brown Lisle Cummings Inc. bought a new position in shares of Valley National Bancorp during the first quarter worth about $39,000. Finally, Optiver Holding B.V. raised its position in shares of Valley National Bancorp by 80.9% during 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 during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Stock Performance

NASDAQ VLY traded down $0.03 on Thursday, reaching $9.59. The stock had a trading volume of 6,136,457 shares, compared to its average volume of 8,032,181. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a fifty day moving average of $8.94 and a two-hundred day moving average of $9.08. Valley National Bancorp has a 1-year low of $6.74 and a 1-year high of $11.10. The company has a market cap of $5.37 billion, a P/E ratio of 13.90 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Valley National Bancorp had a net margin of 11.03% and a return on equity of 5.12%. The firm had revenue of $479.67 million during the quarter, compared to analyst estimates of $483.98 million. During the same period in the prior year, the company earned $0.19 earnings per share. On average, equities research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.59%. Valley National Bancorp's dividend payout ratio is currently 63.77%.

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.