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

Shares of Valley National Bancorp (NASDAQ:VLY - Get Free Report) have been assigned an average rating of "Hold" from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $10.60.

Several research analysts have issued reports on VLY shares. JPMorgan Chase & Co. upped their price target on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a report on Monday, March 24th. Royal Bank of Canada upped their price target on Valley National Bancorp from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Citigroup upped their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Finally, StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday.

Institutional Trading of Valley National Bancorp

Several large investors have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company's stock worth $104,000 after acquiring an additional 1,002 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Valley National Bancorp by 2.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company's stock worth $406,000 after acquiring an additional 1,024 shares during the last quarter. United Services Automobile Association increased its stake in shares of Valley National Bancorp by 3.7% in the fourth quarter. United Services Automobile Association now owns 28,702 shares of the company's stock worth $260,000 after acquiring an additional 1,029 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Valley National Bancorp by 2.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company's stock worth $436,000 after acquiring an additional 1,046 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of Valley National Bancorp by 1.1% in the first quarter. State of Michigan Retirement System now owns 113,681 shares of the company's stock worth $1,011,000 after acquiring an additional 1,200 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Stock Performance

VLY opened at $9.04 on Wednesday. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 13.10 and a beta of 1.05. 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 has a 1-year low of $6.47 and a 1-year high of $11.10. The business has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $9.39.

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

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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