Recent Research Analysts’ Ratings Changes for Valley National Bancorp (VLY)

A number of research firms have changed their ratings and price targets for Valley National Bancorp (NYSE: VLY):

  • 8/1/2017 – Valley National Bancorp was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Valley National Bancorp is a bank holding company whose principal subsidiary is Valley National Bank. Valley National Bank provides a full range of commercial and retail banking services through branch offices located in northern New Jersey. These services include the following: the acceptance of demand, savings and time deposits; extension of consumer, real estate, Small Business Administration and other commercial credits; title insurance; investment services; and full personal and corporate trust, as well as pension and fiduciary services. “
  • 7/31/2017 – Valley National Bancorp was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating. They now have a $13.50 price target on the stock.
  • 7/31/2017 – Valley National Bancorp was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/27/2017 – Valley National Bancorp was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $13.00 price target on the stock.
  • 7/19/2017 – Valley National Bancorp was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/8/2017 – Valley National Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Valley National Bancorp is a bank holding company whose principal subsidiary is Valley National Bank. Valley National Bank provides a full range of commercial and retail banking services through branch offices located in northern New Jersey. These services include the following: the acceptance of demand, savings and time deposits; extension of consumer, real estate, Small Business Administration and other commercial credits; title insurance; investment services; and full personal and corporate trust, as well as pension and fiduciary services. “
  • 7/7/2017 – Valley National Bancorp had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $11.50 price target on the stock, up previously from $11.00.
  • 7/1/2017 – Valley National Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/27/2017 – Valley National Bancorp had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $12.00 price target on the stock.
  • 6/23/2017 – Valley National Bancorp was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Valley National Bancorp (VLY) opened at 11.84 on Wednesday. Valley National Bancorp has a 12-month low of $9.09 and a 12-month high of $12.82. The stock has a 50 day moving average of $11.80 and a 200 day moving average of $11.87. The company has a market capitalization of $3.13 billion, a PE ratio of 16.91 and a beta of 0.90.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $195.79 million during the quarter, compared to analysts’ expectations of $190.83 million. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. During the same quarter in the previous year, the company earned $0.15 earnings per share. On average, equities research analysts predict that Valley National Bancorp will post $0.71 EPS for the current year.

In related news, Director Mary Guilfoile sold 39,495 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the completion of the transaction, the director now owns 258,719 shares in the company, valued at $3,081,343.29. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.07% of the stock is currently owned by insiders.

Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.

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