Keefe, Bruyette & Woods reiterated their buy rating on shares of Valley National Bancorp (NYSE:VLY) in a research report released on Friday morning. They currently have a $15.00 price target on the financial services provider’s stock.
Several other equities analysts have also weighed in on VLY. Zacks Investment Research upgraded shares of Valley National Bancorp from a hold rating to a buy rating and set a $13.00 target price on the stock in a report on Wednesday, September 27th. Royal Bank of Canada started coverage on shares of Valley National Bancorp in a report on Thursday. They set an outperform rating and a $14.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Valley National Bancorp has a consensus rating of Hold and a consensus target price of $13.14.
Shares of Valley National Bancorp (VLY) opened at $11.41 on Friday. Valley National Bancorp has a 12 month low of $10.61 and a 12 month high of $12.82. The stock has a market cap of $3,040.26, a price-to-earnings ratio of 16.78 and a beta of 0.89. 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 also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 22nd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.44 dividend on an annualized basis and a yield of 3.86%. Valley National Bancorp’s dividend payout ratio is currently 64.71%.
A number of hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Valley National Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 817 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Valley National Bancorp by 26.2% in the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 2,031 shares in the last quarter. HRT Financial LLC acquired a new stake in shares of Valley National Bancorp in the 2nd quarter valued at about $120,000. Ffcm LLC raised its stake in shares of Valley National Bancorp by 222.4% in the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 7,079 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Valley National Bancorp in the 3rd quarter valued at about $126,000. Hedge funds and other institutional investors own 63.83% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.com-unik.info/2017/12/25/valley-national-bancorps-vly-buy-rating-reiterated-at-keefe-bruyette-woods.html.
Valley National Bancorp Company Profile
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.
Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.