Valley National Bancorp (NASDAQ:VLY) Given Average Rating of "Hold" by Brokerages

Shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) have earned an average rating of "Hold" from the eleven research firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.73.

Several research firms have weighed in on VLY. Barclays reaffirmed an "underweight" rating on shares of Valley National Bancorp in a research note on Tuesday. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a research note on Monday, March 24th. Jefferies Financial Group began coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $10.00 target price on the stock. Wall Street Zen cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Finally, Morgan Stanley raised Valley National Bancorp from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $10.00 to $11.00 in a research note on Thursday, July 3rd.

Institutional Investors Weigh In On Valley National Bancorp

Several large investors have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Valley National Bancorp in the 1st quarter worth approximately $35,000. Farther Finance Advisors LLC lifted its holdings in Valley National Bancorp by 206.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock worth $38,000 after purchasing an additional 2,896 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Valley National Bancorp in the 4th quarter worth approximately $39,000. Brown Lisle Cummings Inc. acquired a new stake in Valley National Bancorp in the 1st quarter worth approximately $39,000. Finally, Optiver Holding B.V. lifted its holdings in Valley National Bancorp by 80.9% in the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock worth $46,000 after purchasing an additional 2,271 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Price Performance

Shares of VLY traded down $0.05 during trading hours on Thursday, hitting $9.54. 2,017,671 shares of the company were exchanged, compared to its average volume of 8,022,206. The company has a market capitalization of $5.34 billion, a PE ratio of 13.82 and a beta of 1.06. 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 simple moving average of $8.96 and a 200-day simple moving average of $9.08. Valley National Bancorp has a one year low of $7.17 and a one year high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly 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 analysts' expectations of $483.98 million. Valley National Bancorp had a net margin of 11.03% and a return on equity of 5.12%. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, sell-side analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.61%. Valley National Bancorp's payout ratio is 63.77%.

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.