Valley National Bancorp (NASDAQ:VLY) Stock Rating Reaffirmed as “Outperform” by Royal Bank Of Canada

Valley National Bancorp (NASDAQ:VLY)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $17.00 price target on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 33.65% from the stock’s previous close.

Several other research analysts have also commented on the company. UBS Group set a $17.00 target price on Valley National Bancorp in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their target price on Valley National Bancorp from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Truist Financial lifted their target price on Valley National Bancorp from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. lowered their target price on Valley National Bancorp from $17.50 to $17.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Finally, Morgan Stanley lowered their target price on Valley National Bancorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.46.

Valley National Bancorp Stock Down 0.5%

Shares of VLY stock traded down $0.06 during mid-day trading on Tuesday, reaching $12.72. 10,139,855 shares of the company were exchanged, compared to its average volume of 7,143,508. Valley National Bancorp has a fifty-two week low of $9.64 and a fifty-two week high of $15.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $7.03 billion, a P/E ratio of 10.78 and a beta of 1.03. The business’s 50 day simple moving average is $14.09 and its 200 day simple moving average is $13.70.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The company had revenue of $560.74 million for the quarter, compared to analyst estimates of $557.16 million. During the same period in the previous year, the business posted $0.23 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts predict that Valley National Bancorp will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Valley National Bancorp

Several institutional investors have recently made changes to their positions in VLY. Compass Financial Management LLC acquired a new position in shares of Valley National Bancorp during the 2nd quarter worth $28,000. Cedar Mountain Advisors LLC bought a new stake in Valley National Bancorp in the first quarter worth $26,000. Assetmark Inc. boosted its holdings in Valley National Bancorp by 123.7% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock worth $26,000 after purchasing an additional 1,189 shares in the last quarter. Root Financial Partners LLC increased its position in Valley National Bancorp by 127.3% during the first quarter. Root Financial Partners LLC now owns 3,976 shares of the company’s stock worth $49,000 after buying an additional 2,227 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Valley National Bancorp during the fourth quarter valued at about $60,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp News Summary

Here are the key news stories impacting Valley National Bancorp this week:

• Positive Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating and $17 price target, implying substantial upside from the reference price and signaling confidence in Valley National’s outlook. Royal Bank of Canada rating update
• Positive Sentiment: Valley National agreed to acquire Bluevine for approximately $340 million, a deal intended to accelerate its digital small-business strategy, expand fintech capabilities and meaningfully strengthen core funding. The transaction could provide additional growth opportunities and improve the bank’s access to small-business deposits. Valley National Bluevine acquisition announcement
• Neutral Sentiment: Management discussed the Bluevine transaction during an M&A call, giving investors additional context on the proposed acquisition and its digital banking strategy. The financial impact will depend on integration, funding growth and the deal’s ability to generate projected benefits. Valley National M&A call transcript
• Negative Sentiment: Shares came under pressure following the Bluevine announcement, suggesting investors are concerned about the purchase price, execution and potential near-term dilution or integration costs despite the strategic rationale. Valley National Bluevine shares skid
• Negative Sentiment: Morgan Stanley lowered its price target to $16 from $17 and maintained an “equal weight” rating. Although the revised target still indicates potential upside, the downgrade in valuation expectations contrasts with RBC’s more bullish stance. Morgan Stanley rating update

Valley National Bancorp Company Profile

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional financial institution headquartered in Wayne, New Jersey. Founded in 1927, the company provides banking and financial services to consumers, businesses, commercial real estate clients and municipalities.

Valley National Bank offers deposit accounts, consumer and business lending, commercial and industrial loans, commercial real estate financing, residential mortgages, home equity products, and treasury management services.