Valley National Bancorp Upgraded to Outperform at Zacks (VLY)
Valley National Bancorp (NYSE:VLY) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $11.50 price objective on the stock. Zacks‘s target price points to a potential upside of 17.23% from the stock’s previous close.
VLY has been the subject of a number of other recent research reports. Analysts at Raymond James upgraded shares of Valley National Bancorp from an “underperform” rating to a “market perform” rating in a research note on Friday, May 9th. Analysts at Compass Point raised their price target on shares of Valley National Bancorp from $13.00 to $14.00 in a research note on Monday, April 28th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $11.67.
Valley National Bancorp (NYSE:VLY) traded up 0.51% during mid-day trading on Wednesday, hitting $9.86. 803,004 shares of the company’s stock traded hands. Valley National Bancorp has a one year low of $9.28 and a one year high of $10.81. The stock’s 50-day moving average is $9.89 and its 200-day moving average is $10.0. The company has a market cap of $1.977 billion and a price-to-earnings ratio of 14.64.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.03. During the same quarter in the prior year, the company posted $0.16 earnings per share. Analysts expect that Valley National Bancorp will post $0.56 EPS for the current fiscal year.
Valley National Bancorp (NYSE:VLY) is a bank holding company.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.