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

Valley National Bancorp (NASDAQ:VLY - Get Free Report) has earned a consensus rating of "Hold" from the nine brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.67.

VLY has been the subject of a number of analyst reports. 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 report on Monday, March 24th. Royal Bank of Canada lifted their price target on Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 26th. JPMorgan Chase & Co. boosted their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Citigroup boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, January 27th.

Valley National Bancorp Stock Up 1.3 %

NASDAQ:VLY traded up $0.12 during trading hours on Friday, hitting $8.72. 403,273 shares of the company's stock traded hands, compared to its average volume of 7,094,237. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The stock's fifty day moving average price is $8.72 and its two-hundred day moving average price is $9.42. The firm has a market cap of $4.88 billion, a P/E ratio of 12.62 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced 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 10.62% and a return on equity of 5.14%. The company had revenue of $479.67 million for the quarter, compared to analysts' expectations of $483.98 million. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 5.05%. Valley National Bancorp's dividend payout ratio (DPR) is currently 63.77%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. bought a new stake in shares of Valley National Bancorp during the 4th quarter valued at $74,558,000. Wellington Management Group LLP boosted its holdings in Valley National Bancorp by 90.2% during the fourth quarter. Wellington Management Group LLP now owns 17,059,328 shares of the company's stock worth $154,558,000 after buying an additional 8,088,466 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Valley National Bancorp by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 50,002,161 shares of the company's stock valued at $453,020,000 after acquiring an additional 4,204,651 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Valley National Bancorp during the 1st quarter worth approximately $32,286,000. Finally, Norges Bank acquired a new position in Valley National Bancorp during the fourth quarter valued at approximately $31,490,000. 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.