Valley National Bancorp (NASDAQ:VLY) Given Neutral Rating at Wedbush

Valley National Bancorp (NASDAQ:VLY)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a research report issued on Friday, Benzinga reports. They presently have a $10.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 4.93% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley boosted their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.88.

Valley National Bancorp Trading Down 0.7 %

VLY stock traded down $0.07 during trading on Friday, hitting $9.53. 388,059 shares of the company traded hands, compared to its average volume of 5,827,209. The company has a 50-day moving average of $8.76 and a 200-day moving average of $7.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The firm has a market capitalization of $4.85 billion, a PE ratio of 13.34 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $921.22 million for the quarter, compared to analysts’ expectations of $467.87 million. Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. During the same quarter last year, the business earned $0.26 earnings per share. Analysts predict that Valley National Bancorp will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Valley National Bancorp

Several large investors have recently added to or reduced their stakes in VLY. Dimensional Fund Advisors LP lifted its holdings in shares of Valley National Bancorp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after purchasing an additional 337,416 shares during the period. AQR Capital Management LLC lifted its stake in Valley National Bancorp by 193.2% during the 2nd quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after acquiring an additional 6,703,552 shares during the period. Millennium Management LLC boosted its holdings in shares of Valley National Bancorp by 995.0% in the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after acquiring an additional 2,522,204 shares during the last quarter. Leeward Investments LLC MA increased its stake in shares of Valley National Bancorp by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock worth $13,269,000 after acquiring an additional 101,099 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Valley National Bancorp by 1.6% in the first quarter. Principal Financial Group Inc. now owns 1,619,511 shares of the company’s stock worth $12,891,000 after acquiring an additional 26,209 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

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.