Valley National Bancorp (NASDAQ:VLY) Upgraded to "Hold" at StockNews.com

Valley National Bancorp (NASDAQ:VLY - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently issued reports on VLY. Citigroup lifted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Barclays reduced their target price on Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Stephens reissued an "overweight" rating and set a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upped their price objective on Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective 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. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.67.

Valley National Bancorp Price Performance

VLY stock traded up $0.11 on Friday, reaching $8.71. 5,721,600 shares of the company's stock were exchanged, compared to its average volume of 7,115,049. The stock has a fifty day moving average of $8.72 and a 200-day moving average of $9.42. The firm has a market cap of $4.88 billion, a PE ratio of 12.62 and a beta of 1.06. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The company had revenue of $479.67 million during the quarter, compared to analysts' expectations of $483.98 million. Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, equities analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Valley National Bancorp

Large investors have recently bought and sold shares of the stock. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Valley National Bancorp in the 3rd quarter worth $154,000. JPMorgan Chase & Co. increased its position in Valley National Bancorp by 41.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company's stock worth $13,539,000 after purchasing an additional 439,831 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Valley National Bancorp by 17.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company's stock valued at $323,000 after buying an additional 5,181 shares during the period. SG Americas Securities LLC lifted its position in Valley National Bancorp by 22.4% during the fourth quarter. SG Americas Securities LLC now owns 56,228 shares of the company's stock valued at $509,000 after buying an additional 10,300 shares in the last quarter. Finally, KBC Group NV grew its stake in Valley National Bancorp by 24.8% during the fourth quarter. KBC Group NV now owns 18,035 shares of the company's stock worth $163,000 after buying an additional 3,585 shares during the period. Hedge funds and other 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.