Valley National Bancorp (VLY) Given Average Rating of “Hold” by Analysts

Valley National Bancorp (NYSE:VLY) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $12.60.

Several brokerages have commented on VLY. Keefe, Bruyette & Woods restated a “buy” rating and issued a $13.00 target price on shares of Valley National Bancorp in a research note on Friday, September 29th. Zacks Investment Research downgraded Valley National Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Piper Jaffray Companies restated a “neutral” rating and issued a $13.00 target price (up previously from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th.

Shares of Valley National Bancorp (VLY) traded down $0.25 during midday trading on Thursday, reaching $11.67. The company’s stock had a trading volume of 1,861,960 shares, compared to its average volume of 1,854,844. Valley National Bancorp has a fifty-two week low of $10.61 and a fifty-two week high of $12.82. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The company has a market cap of $3,132.79, a P/E ratio of 16.69 and a beta of 0.89.

Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The company had revenue of $193.00 million during the quarter, compared to the consensus estimate of $195.03 million. During the same quarter in the prior year, the business earned $0.16 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. equities research analysts predict that Valley National Bancorp will post 0.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 22nd will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.77%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 64.71%.

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Valley National Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 817 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Valley National Bancorp by 26.2% during the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 2,031 shares during the last quarter. HRT Financial LLC bought a new stake in shares of Valley National Bancorp during the 2nd quarter valued at about $120,000. Ffcm LLC boosted its position in shares of Valley National Bancorp by 222.4% during the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 7,079 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Valley National Bancorp during the 3rd quarter valued at about $126,000. Hedge funds and other institutional investors own 63.90% of the company’s stock.

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About Valley National Bancorp

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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