Valley National Bancorp (NASDAQ:VLY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Valley National Bancorp (NASDAQ:VLY) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.20.

Several analysts have recently weighed in on VLY shares. Zacks Research downgraded Valley National Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Barclays raised their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Valley National Bancorp from $14.00 to $14.50 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Citigroup reaffirmed a “buy” rating on shares of Valley National Bancorp in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada lifted their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, January 30th.

Insider Activity at Valley National Bancorp

In other news, Director Carlos J. Vazquez purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $13.45 per share, for a total transaction of $33,625.00. Following the completion of the purchase, the director owned 4,252 shares in the company, valued at approximately $57,189.40. This represents a 142.69% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Valley National Bancorp

Several large investors have recently modified their holdings of VLY. Los Angeles Capital Management LLC purchased a new position in Valley National Bancorp during the fourth quarter valued at approximately $26,000. First Horizon Corp boosted its position in Valley National Bancorp by 52.5% during the 4th quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after acquiring an additional 1,108 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Valley National Bancorp in the 4th quarter valued at $39,000. Parallel Advisors LLC increased its holdings in shares of Valley National Bancorp by 24.5% in the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the company’s stock valued at $51,000 after acquiring an additional 855 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Valley National Bancorp in the 2nd quarter worth $39,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Up 1.5%

Shares of NASDAQ:VLY opened at $13.37 on Friday. The firm has a market capitalization of $7.46 billion, a PE ratio of 13.24 and a beta of 1.10. The business has a 50 day simple moving average of $12.50 and a two-hundred day simple moving average of $11.37. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $13.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The firm had revenue of $541.25 million during the quarter, compared to analyst estimates of $524.31 million. During the same period last year, the company earned $0.13 EPS. Valley National Bancorp’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, March 13th. Valley National Bancorp’s dividend payout ratio is currently 43.56%.

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.