Valley National Bancorp (NASDAQ:VLY) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Valley National Bancorp has received a consensus rating of "Moderate Buy" from analysts, with nine buy ratings and three hold ratings from twelve analysts.
• The current average price target for Valley National Bancorp is $11.85, with recent price targets ranging from $10.00 to $13.50.
• The company declared a quarterly dividend of $0.11 per share, representing an annualized yield of 4.1%, with a payout ratio of 56.41%.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.8462.

VLY has been the subject of several recent research reports. National Bankshares set a $13.50 price target on Valley National Bancorp in a research note on Monday, September 15th. Truist Financial boosted their price target on Valley National Bancorp from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Wall Street Zen downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday. Royal Bank Of Canada boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Morgan Stanley boosted their price target on Valley National Bancorp from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, September 9th.

Valley National Bancorp Stock Performance

Shares of NASDAQ VLY opened at $10.73 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. Valley National Bancorp has a 12 month low of $7.48 and a 12 month high of $11.12. The stock has a 50 day moving average of $10.00 and a 200-day moving average of $9.22. The company has a market capitalization of $6.01 billion, a P/E ratio of 13.76 and a beta of 1.13.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%.The company had revenue of $495.01 million during the quarter, compared to the consensus estimate of $495.79 million. During the same period in the previous year, the company posted $0.13 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities research analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.11 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.44 annualized dividend and a yield of 4.1%. Valley National Bancorp's payout ratio is 56.41%.

Hedge Funds Weigh In On Valley National Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VLY. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Valley National Bancorp in the 1st quarter valued at $35,000. Farther Finance Advisors LLC raised 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 valued at $38,000 after acquiring an additional 2,896 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in Valley National Bancorp in the 1st quarter valued at $39,000. Atlantic Union Bankshares Corp acquired a new position in Valley National Bancorp in the 2nd quarter valued at $39,000. Finally, Hantz Financial Services Inc. raised its holdings in Valley National Bancorp by 11,831.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company's stock valued at $48,000 after acquiring an additional 5,324 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

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.

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