Valley National Bancorp (NYSE:VLY) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $11.50 price objective (up from $11.00) on shares of Valley National Bancorp in a research report on Friday, July 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Valley National Bancorp in a research report on Monday, April 3rd. Stephens began coverage on shares of Valley National Bancorp in a research report on Wednesday, April 5th. They issued an “equal weight” rating for the company. Finally, Wedbush reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Valley National Bancorp in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Valley National Bancorp has a consensus rating of “Hold” and an average target price of $11.80.

Shares of Valley National Bancorp (VLY) traded up 0.17% during trading on Wednesday, hitting $11.87. The stock had a trading volume of 765,440 shares. The firm has a 50-day moving average of $11.73 and a 200 day moving average of $11.86. The company has a market capitalization of $3.13 billion, a P/E ratio of 17.98 and a beta of 0.90. Valley National Bancorp has a 1-year low of $8.90 and a 1-year high of $12.82.

Valley National Bancorp (NYSE:VLY) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. Valley National Bancorp had a net margin of 20.07% and a return on equity of 8.08%. The company had revenue of $189.80 million for the quarter, compared to analyst estimates of $187.34 million. During the same quarter in the prior year, the business posted $0.14 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts predict that Valley National Bancorp will post $0.71 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Valley National Bancorp by 9,915.0% in the first quarter. BlackRock Inc. now owns 31,310,183 shares of the financial services provider’s stock valued at $369,461,000 after buying an additional 30,997,551 shares in the last quarter. Vanguard Group Inc. boosted its stake in Valley National Bancorp by 8.2% in the first quarter. Vanguard Group Inc. now owns 21,432,081 shares of the financial services provider’s stock valued at $252,898,000 after buying an additional 1,630,803 shares during the period. BlackRock Fund Advisors boosted its stake in Valley National Bancorp by 11.0% in the third quarter. BlackRock Fund Advisors now owns 17,600,835 shares of the financial services provider’s stock valued at $171,256,000 after buying an additional 1,743,178 shares during the period. State Street Corp boosted its stake in Valley National Bancorp by 12.2% in the first quarter. State Street Corp now owns 14,739,234 shares of the financial services provider’s stock valued at $173,924,000 after buying an additional 1,598,627 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Valley National Bancorp by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 12,695,260 shares of the financial services provider’s stock valued at $149,804,000 after buying an additional 1,344,805 shares during the period. Institutional investors and hedge funds own 61.54% of the company’s stock.

Valley National Bancorp Company Profile

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.

Analyst Recommendations for Valley National Bancorp (NYSE:VLY)

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