Valley National Bancorp (NASDAQ:VLY) Receives $13.43 Average Target Price from Brokerages

Valley National Bancorp (NASDAQ:VLY) has been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $13.4286.

Several analysts have recently commented on VLY shares. Royal Bank Of Canada increased their target price on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Janney Montgomery Scott upgraded shares of Valley National Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings cut shares of Valley National Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. TD Cowen restated a “buy” rating on shares of Valley National Bancorp in a research note on Monday, October 27th. Finally, Zacks Research downgraded Valley National Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th.

Institutional Investors Weigh In On Valley National Bancorp

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Valley National Bancorp during the 2nd quarter worth about $31,276,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Valley National Bancorp during the second quarter valued at about $792,000. Y Intercept Hong Kong Ltd boosted its position in shares of Valley National Bancorp by 35.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 487,330 shares of the company’s stock valued at $5,166,000 after acquiring an additional 128,865 shares during the period. Pacer Advisors Inc. bought a new position in shares of Valley National Bancorp in the third quarter valued at approximately $969,000. Finally, Capital Fund Management S.A. purchased a new position in Valley National Bancorp during the second quarter valued at approximately $425,000. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Stock Down 0.2%

Shares of NASDAQ:VLY opened at $12.27 on Monday. The business’s 50 day moving average is $11.77 and its 200 day moving average is $10.82. Valley National Bancorp has a 12-month low of $7.48 and a 12-month high of $12.68. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 13.94 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.