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

Key Points

• Valley National Bancorp has received a consensus rating of "Moderate Buy" from fifteen ratings firms, with thirteen analysts issuing buy recommendations.
• The company recently reported $0.23 earnings per share, slightly exceeding analysts' expectations, and had a revenue increase of 9.3% compared to the same quarter last year.
• Valley National Bancorp declared a quarterly dividend of $0.11 per share, resulting in an annualized yield of 4.5% and a payout ratio of 56.41%.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $12.6786.

A number of analysts have recently weighed in on VLY shares. Wall Street Zen upgraded Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. National Bankshares set a $14.00 target price on Valley National Bancorp in a research report on Monday, September 29th. Hovde Group started coverage on Valley National Bancorp in a research report on Wednesday, September 10th. They set an "outperform" rating and a $12.50 target price for the company. Royal Bank Of Canada upped their target price on Valley National Bancorp from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Finally, Morgan Stanley upped their target price on Valley National Bancorp from $13.00 to $14.00 and gave the company an "overweight" rating in a research report on Monday, September 29th.

Institutional Trading of Valley National Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in shares of Valley National Bancorp by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,100,892 shares of the company's stock worth $9,787,000 after buying an additional 10,996 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Valley National Bancorp by 22.4% during the 1st quarter. GAMMA Investing LLC now owns 9,325 shares of the company's stock worth $83,000 after buying an additional 1,709 shares during the last quarter. Hourglass Capital LLC lifted its position in shares of Valley National Bancorp by 6.3% during the 1st quarter. Hourglass Capital LLC now owns 444,513 shares of the company's stock worth $3,952,000 after buying an additional 26,280 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Valley National Bancorp by 33.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 17,058 shares of the company's stock worth $152,000 after buying an additional 4,261 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Valley National Bancorp by 230.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,833 shares of the company's stock worth $1,314,000 after buying an additional 103,159 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Stock Performance

VLY opened at $9.80 on Friday. The business has a fifty day simple moving average of $10.45 and a 200 day simple moving average of $9.44. The company has a market capitalization of $5.49 billion, a PE ratio of 12.56 and a beta of 1.12. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $11.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97.

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

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, September 15th. Valley National Bancorp's dividend payout ratio is currently 56.41%.

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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