Analysts Set Valley National Bancorp (NASDAQ:VLY) PT at $10.78

Shares of Valley National Bancorp (NASDAQ:VLY) have received a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $10.78.

A number of research analysts have commented on VLY shares. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup raised their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. lifted their target price on Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a report on Thursday, January 2nd.

Valley National Bancorp Stock Performance

Shares of VLY opened at $8.05 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.10. The stock has a 50 day moving average price of $9.44 and a 200 day moving average price of $9.51. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 11.67 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Research analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 5.47%. Valley National Bancorp’s dividend payout ratio is presently 63.77%.

Insider Activity at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total transaction of $510,500.00. Following the sale, the executive vice president now directly owns 495,249 shares of the company’s stock, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Valley National Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Valley National Bancorp in the 4th quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Valley National Bancorp in the 4th quarter worth $39,000. Optiver Holding B.V. boosted its holdings in Valley National Bancorp by 80.9% in the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after acquiring an additional 2,271 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Valley National Bancorp during the fourth quarter valued at about $102,000. Finally, Sapient Capital LLC acquired a new stake in Valley National Bancorp during the fourth quarter worth about $103,000. 61.00% of the stock is currently 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.