Valley National Bancorp (NASDAQ:VLY) PT Raised to $8.50 at Keefe, Bruyette & Woods

Valley National Bancorp (NASDAQ:VLY) had its price target upped by Keefe, Bruyette & Woods from $8.00 to $8.50 in a research note issued to investors on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

VLY has been the subject of a number of other research reports. Wedbush reiterated a neutral rating and set a $8.00 price objective on shares of Valley National Bancorp in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. lowered their price objective on Valley National Bancorp from $8.50 to $8.00 and set a neutral rating for the company in a research note on Thursday, June 27th. Barclays lowered their price objective on Valley National Bancorp from $8.00 to $7.00 and set an underweight rating for the company in a research note on Monday, June 24th. StockNews.com upgraded Valley National Bancorp from a sell rating to a hold rating in a research note on Friday, May 17th. Finally, Royal Bank of Canada lowered their price objective on Valley National Bancorp from $9.00 to $8.00 and set an outperform rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $8.61.

Valley National Bancorp Trading Down 2.4 %

VLY opened at $8.03 on Friday. The stock has a market cap of $4.09 billion, a PE ratio of 9.45 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $7.15 and a 200-day moving average of $7.87. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $884.68 million during the quarter, compared to analysts’ expectations of $458.67 million. Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. During the same quarter in the previous year, the business earned $0.28 EPS. Equities research analysts predict that Valley National Bancorp will post 0.77 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Thursday, June 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 5.48%. The ex-dividend date was Thursday, June 13th. Valley National Bancorp’s payout ratio is currently 51.76%.

Insider Buying and Selling

In related news, EVP Joseph Chillura sold 10,000 shares of Valley National Bancorp stock in a transaction on Friday, June 14th. The stock was sold at an average price of $6.57, for a total value of $65,700.00. Following the completion of the sale, the executive vice president now owns 545,249 shares of the company’s stock, valued at $3,582,285.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Valley National Bancorp news, Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total transaction of $127,001.72. Following the completion of the sale, the director now owns 224,679 shares of the company’s stock, valued at $1,734,521.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Chillura sold 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $6.57, for a total value of $65,700.00. Following the sale, the executive vice president now directly owns 545,249 shares of the company’s stock, valued at approximately $3,582,285.93. The disclosure for this sale can be found here. Insiders sold 51,451 shares of company stock valued at $378,452 over the last 90 days. Company insiders own 1.88% of the company’s stock.

Institutional Trading of Valley National Bancorp

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in Valley National Bancorp during the fourth quarter valued at about $35,000. Innealta Capital LLC bought a new stake in Valley National Bancorp during the second quarter valued at about $38,000. Wolverine Asset Management LLC bought a new stake in Valley National Bancorp during the fourth quarter valued at about $40,000. EntryPoint Capital LLC bought a new stake in Valley National Bancorp during the first quarter valued at about $43,000. Finally, Simplicity Wealth LLC purchased a new position in shares of Valley National Bancorp in the first quarter valued at about $92,000. 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.