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

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

A number of other brokerages have also weighed in on VLY. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price for the company in a research report on Monday, March 24th. Royal Bank of Canada upped their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their target price on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Citigroup upped their price target 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. Finally, Stephens reissued an "overweight" rating and set a $12.50 price objective on shares of Valley National Bancorp in a report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.67.

Valley National Bancorp Trading Down 0.8 %

Shares of VLY traded down $0.07 during mid-day trading on Friday, reaching $8.60. 7,052,653 shares of the company's stock traded hands, compared to its average volume of 7,120,619. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $4.82 billion, a P/E ratio of 12.46 and a beta of 1.06. The stock's 50-day moving average is $8.74 and its two-hundred day moving average is $9.43.

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 business had revenue of $479.67 million during the quarter, compared to analysts' expectations 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 in the previous year, the business earned $0.19 EPS. Research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Institutional Trading of Valley National Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in VLY. R Squared Ltd acquired a new position in Valley National Bancorp during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC grew its stake in shares of Valley National Bancorp by 206.6% during the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock worth $38,000 after acquiring an additional 2,896 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Valley National Bancorp in the 4th quarter valued at approximately $39,000. Brown Lisle Cummings Inc. purchased a new position in shares of Valley National Bancorp in the 1st quarter valued at approximately $39,000. Finally, Optiver Holding B.V. boosted its stake in Valley National Bancorp by 80.9% in the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock worth $46,000 after purchasing an additional 2,271 shares in the last quarter. 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.