Valley National Bancorp’s (VLY) “Outperform” Rating Reiterated at Royal Bank Of Canada

Valley National Bancorp (NASDAQ:VLY)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $17.00 price target on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 32.92% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial upped their target price on Valley National Bancorp from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Valley National Bancorp in a research report on Monday, July 6th. UBS Group set a $17.00 price objective on shares of Valley National Bancorp in a research report on Tuesday, July 7th. Morgan Stanley lowered their price target on Valley National Bancorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Valley National Bancorp from $17.50 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.46.

Valley National Bancorp Stock Performance

Shares of VLY stock opened at $12.79 on Tuesday. Valley National Bancorp has a one year low of $9.64 and a one year high of $15.20. The stock has a market cap of $7.07 billion, a P/E ratio of 10.84 and a beta of 1.03. The company has a fifty day moving average price of $14.09 and a two-hundred day moving average price of $13.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.30 EPS 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 business had revenue of $560.74 million for the quarter, compared to the consensus estimate of $557.16 million. During the same quarter in the previous year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Valley National Bancorp will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cedar Mountain Advisors LLC bought a new stake in shares of Valley National Bancorp during the 1st quarter valued at about $26,000. Assetmark Inc. lifted its stake in Valley National Bancorp by 123.7% in the first quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock valued at $26,000 after buying an additional 1,189 shares during the period. Compass Financial Management LLC bought a new position in shares of Valley National Bancorp during the 2nd quarter worth approximately $28,000. Root Financial Partners LLC boosted its holdings in shares of Valley National Bancorp by 127.3% during the 1st 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 in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Valley National Bancorp during the 4th quarter worth approximately $60,000. 61.00% of the stock is owned by institutional investors.

Trending Headlines about Valley National Bancorp

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

• Positive Sentiment: The Bluevine acquisition would give Valley National greater exposure to digitally focused small-business banking, potentially expanding deposits, customer relationships and fee-generating opportunities. Management discussed the strategic rationale and transaction details during an M&A call. Transcript: Valley National Bancorp, Bluevine Inc. M&A Call
• Positive Sentiment: Valley said the deal should meaningfully enhance its core funding capabilities, a potentially favorable development for lending growth and the bank’s funding mix. Valley National Bancorp to Acquire Bluevine
• Neutral Sentiment: Morgan Stanley lowered its price target for VLY to $16 from $17 and maintained an “equal weight” rating. The revised target still implies substantial upside from the reference price, but the rating signals limited conviction in near-term outperformance. Morgan Stanley analyst action
• Negative Sentiment: The roughly $340 million purchase has prompted a negative initial market reaction, likely reflecting concerns about acquisition execution, integration costs, valuation and the potential effect on capital or near-term earnings. Valley National to Buy Bluevine, Shares Skid

About Valley National Bancorp

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.