Valley National Bancorp (NASDAQ:VLY) PT Lowered to $8.00

Valley National Bancorp (NASDAQ:VLY) had its price objective lowered by Wedbush from $9.00 to $8.00 in a research report released on Friday, Benzinga reports. The firm currently has a neutral rating on the stock. Wedbush also issued estimates for Valley National Bancorp’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.29 EPS and FY2025 earnings at $1.15 EPS.

VLY has been the topic of several other reports. Morgan Stanley increased their price objective on shares of Valley National Bancorp from $8.50 to $9.00 and gave the company an underweight rating in a report on Wednesday, February 7th. Citigroup lowered their target price on shares of Valley National Bancorp from $11.00 to $8.50 and set a neutral rating for the company in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods lowered their target price on shares of Valley National Bancorp from $13.00 to $12.00 and set an outperform rating for the company in a research note on Friday, January 26th. JPMorgan Chase & Co. lowered their target price on shares of Valley National Bancorp from $12.00 to $9.00 and set a neutral rating for the company in a research note on Thursday, April 4th. Finally, Barclays initiated coverage on shares of Valley National Bancorp in a research note on Friday, March 8th. They issued an underweight rating and a $8.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $9.33.

Valley National Bancorp Trading Down 2.7 %

Shares of NASDAQ VLY opened at $7.12 on Friday. The company’s 50 day simple moving average is $7.79 and its 200 day simple moving average is $8.81. Valley National Bancorp has a fifty-two week low of $6.39 and a fifty-two week high of $11.22. The firm has a market capitalization of $3.62 billion, a P/E ratio of 8.38 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 1.00.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. The business had revenue of $890.07 million during the quarter, compared to analyst estimates of $447.38 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, analysts predict that Valley National Bancorp will post 0.9 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend was Wednesday, March 13th. Valley National Bancorp’s dividend payout ratio is 51.76%.

Insider Transactions at Valley National Bancorp

In related news, EVP Joseph Chillura sold 49,715 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the transaction, the executive vice president now owns 545,249 shares of the company’s stock, valued at $4,460,136.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Valley National Bancorp in the fourth quarter valued at $35,000. Wolverine Asset Management LLC bought a new position in Valley National Bancorp in the fourth quarter valued at $40,000. Simplicity Wealth LLC acquired a new stake in Valley National Bancorp in the first quarter valued at $92,000. Stratos Wealth Partners LTD. acquired a new stake in Valley National Bancorp in the third quarter valued at $93,000. Finally, Jump Financial LLC acquired a new stake in Valley National Bancorp in the third quarter valued at $93,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Company Profile

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.