Valley National Bancorp (NASDAQ:VLY) Receives $8.44 Consensus Target Price from Analysts

Shares of Valley National Bancorp (NASDAQ:VLY) have received a consensus rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $8.61.

Several research analysts have weighed in on VLY shares. Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Valley National Bancorp in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods raised their price target on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barclays reduced their price target on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. reduced their price target on Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, June 27th.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $8.40 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.22. The firm has a market capitalization of $4.28 billion, a PE ratio of 9.88 and a beta of 1.08. The stock’s 50-day simple moving average is $7.17 and its 200-day simple moving average is $7.86.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $884.68 million for the quarter, compared to analysts’ expectations of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same quarter in the prior year, the business earned $0.28 EPS. As a group, equities research analysts forecast that Valley National Bancorp will post 0.74 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Thursday, June 13th were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 5.24%. Valley National Bancorp’s dividend payout ratio is presently 51.76%.

Insider Activity

In related news, EVP Joseph Chillura sold 25,000 shares of Valley National Bancorp stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $7.43, for a total transaction of $185,750.00. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $74,300. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Joseph Chillura sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $7.43, for a total transaction of $185,750.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $74,300. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew B. Abramson sold 16,451 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $7.72, for a total value of $127,001.72. Following the sale, the director now directly owns 224,679 shares in the company, valued at $1,734,521.88. The disclosure for this sale can be found here. Insiders sold 51,451 shares of company stock worth $378,452 over the last three months. Corporate insiders own 1.88% of the company’s stock.

Institutional Trading of Valley National Bancorp

Large investors have recently added to or reduced their stakes in the company. Xponance Inc. increased its stake in shares of Valley National Bancorp by 2.1% in the fourth quarter. Xponance Inc. now owns 62,924 shares of the company’s stock worth $683,000 after acquiring an additional 1,286 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Valley National Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 535,546 shares of the company’s stock worth $4,263,000 after purchasing an additional 1,435 shares in the last quarter. Diversified Trust Co boosted its holdings in Valley National Bancorp by 11.1% in the second quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock worth $100,000 after purchasing an additional 1,435 shares in the last quarter. Strs Ohio boosted its holdings in Valley National Bancorp by 5.4% in the fourth quarter. Strs Ohio now owns 38,800 shares of the company’s stock worth $421,000 after purchasing an additional 2,000 shares in the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Valley National Bancorp by 2.4% in the first quarter. State of Michigan Retirement System now owns 104,781 shares of the company’s stock worth $834,000 after purchasing an additional 2,500 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

About Valley National Bancorp

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.