Valley National Bancorp’s (VLY) “Neutral” Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of Valley National Bancorp (NASDAQ:VLYFree Report) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $8.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Barclays initiated coverage on shares of Valley National Bancorp in a report on Friday, March 8th. They issued an underweight rating and a $8.00 price target on the stock. Morgan Stanley raised their price target 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. Royal Bank of Canada lowered their price target on shares of Valley National Bancorp from $12.00 to $10.00 and set an outperform rating on the stock in a report on Tuesday, April 9th. StockNews.com upgraded shares of Valley National Bancorp from a sell rating to a hold rating in a research note on Friday, May 17th. Finally, TheStreet cut shares of Valley National Bancorp from a b- rating to a c+ rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $9.33.

Read Our Latest Stock Report on Valley National Bancorp

Valley National Bancorp Stock Up 0.1 %

Shares of Valley National Bancorp stock opened at $7.36 on Wednesday. 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 has a 1 year low of $6.97 and a 1 year high of $11.22. The firm’s 50-day moving average is $7.63 and its two-hundred day moving average is $8.75. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 8.66 and a beta of 1.10.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $890.07 million during the quarter, compared to the consensus estimate of $447.38 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Valley National Bancorp news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the transaction, the director now directly owns 224,679 shares of the company’s stock, valued at approximately $1,734,521.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Valley National Bancorp news, Director Andrew B. Abramson sold 16,451 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the transaction, the director now directly owns 224,679 shares of the company’s stock, valued at approximately $1,734,521.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Chillura sold 49,715 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $8.18, for a total transaction of $406,668.70. Following the transaction, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at $4,460,136.82. The disclosure for this sale can be found here. 1.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Valley National Bancorp

Several institutional investors have recently made changes to their positions in the company. Xponance Inc. increased its holdings in shares of Valley National Bancorp by 2.1% during the 4th quarter. Xponance Inc. now owns 62,924 shares of the company’s stock valued at $683,000 after purchasing an additional 1,286 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Valley National Bancorp by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 535,546 shares of the company’s stock valued at $4,263,000 after purchasing an additional 1,435 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Valley National Bancorp by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 122,917 shares of the company’s stock valued at $1,052,000 after purchasing an additional 1,693 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in shares of Valley National Bancorp by 5.5% during the 3rd quarter. Resources Management Corp CT ADV now owns 36,200 shares of the company’s stock valued at $310,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Valley National Bancorp by 5.4% during the 4th quarter. Strs Ohio now owns 38,800 shares of the company’s stock valued at $421,000 after purchasing an additional 2,000 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

About Valley National Bancorp

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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.

Further Reading

Analyst Recommendations for Valley National Bancorp (NASDAQ:VLY)

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