Valley National Bancorp (NYSE:VLY)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a report released on Monday. They currently have a $14.00 target price on the financial services provider’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 10.24% from the stock’s current price.
A number of other brokerages have also recently issued reports on VLY. Zacks Investment Research cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $15.00 target price on shares of Valley National Bancorp in a report on Friday, December 22nd. Finally, Royal Bank of Canada started coverage on Valley National Bancorp in a report on Thursday, December 21st. They set an “outperform” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.29.
Shares of Valley National Bancorp (NYSE:VLY) traded down $0.04 during trading hours on Monday, hitting $12.70. The stock had a trading volume of 2,360,000 shares, compared to its average volume of 2,550,000. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.01. Valley National Bancorp has a 1-year low of $10.61 and a 1-year high of $12.82. The stock has a market cap of $3,360.00, a PE ratio of 21.90 and a beta of 0.89.
In related news, Director Peter J. Baum purchased 3,433 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $12.70 per share, for a total transaction of $43,599.10. Following the acquisition, the director now directly owns 41,086 shares in the company, valued at $521,792.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.07% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its holdings in Valley National Bancorp by 0.5% in the 2nd quarter. Citigroup Inc. now owns 111,892 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 512 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Valley National Bancorp by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 100,459 shares of the financial services provider’s stock worth $1,186,000 after acquiring an additional 1,284 shares during the period. Amalgamated Bank boosted its holdings in Valley National Bancorp by 5.2% in the 2nd quarter. Amalgamated Bank now owns 36,775 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 1,803 shares during the period. Advisor Group Inc. boosted its holdings in 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 worth $115,000 after acquiring an additional 2,031 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Valley National Bancorp by 3.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 64,548 shares of the financial services provider’s stock worth $762,000 after acquiring an additional 2,320 shares during the period. Hedge funds and other institutional investors own 63.82% 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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