Valley National Bancorp’s “Hold” Rating Reiterated at Sandler O’Neill (VLY)
Valley National Bancorp (NYSE:VLY) traded up 0.91% during mid-day trading on Thursday, hitting $10.00. The stock had a trading volume of 1,628,787 shares. 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 $9.76 and its 200-day moving average is $9.96. The company has a market cap of $2.006 billion and a P/E ratio of 15.25.
Valley National Bancorp (NYSE:VLY) last released its earnings data on Wednesday, July 30th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.01. The company had revenue of $129.83 million for the quarter, compared to the consensus estimate of $135.40 million. During the same quarter last year, the company posted $0.17 earnings per share. Valley National Bancorp’s revenue was down 9.1% compared to the same quarter last year. Analysts expect that Valley National Bancorp will post $0.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Thursday, September 11th.
Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Valley National Bancorp from $9.50 to $10.00 in a research note on Friday, August 1st. They now have a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Valley National Bancorp presently has an average rating of “Hold” and an average price target of $12.00.
Valley National Bancorp (NYSE:VLY) is a bank holding company.
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