Shares of Valley National Bancorp (NYSE:VLY) have been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.60.

A number of brokerages have recently issued reports on VLY. Wedbush reaffirmed a “neutral” rating and set a $12.00 price target on shares of Valley National Bancorp in a report on Tuesday, June 27th. BidaskClub raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Hovde Group raised shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 price target on the stock in a report on Monday, July 31st. Finally, Keefe, Bruyette & Woods raised shares of Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a report on Thursday, July 27th.

Shares of Valley National Bancorp (VLY) traded up 0.64% during mid-day trading on Friday, reaching $10.98. 4,639,101 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $11.32 and its 200-day moving average price is $11.70. Valley National Bancorp has a 12-month low of $9.23 and a 12-month high of $12.82. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 15.69 and a beta of 0.91.

Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. The company had revenue of $195.79 million for the quarter, compared to the consensus estimate of $190.83 million. During the same period in the prior year, the firm posted $0.15 EPS. Equities research analysts forecast that Valley National Bancorp will post $0.71 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 14th. Valley National Bancorp’s payout ratio is presently 62.86%.

In other news, Director Mary Guilfoile sold 39,495 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $11.91, for a total transaction of $470,385.45. Following the sale, the director now owns 258,719 shares of the company’s stock, valued at approximately $3,081,343.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.07% of the company’s stock.

Large investors have recently modified their holdings of the company. Visionary Asset Management Inc. bought a new position in shares of Valley National Bancorp in the 2nd quarter worth approximately $328,000. Alliancebernstein L.P. lifted its stake in shares of Valley National Bancorp by 34.0% in the 1st quarter. Alliancebernstein L.P. now owns 522,944 shares of the financial services provider’s stock worth $6,171,000 after purchasing an additional 132,790 shares during the period. Prudential Financial Inc. lifted its stake in shares of Valley National Bancorp by 109.0% in the 1st quarter. Prudential Financial Inc. now owns 330,094 shares of the financial services provider’s stock worth $3,895,000 after purchasing an additional 172,120 shares during the period. Crawford Investment Counsel Inc. lifted its stake in shares of Valley National Bancorp by 5.1% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 196,413 shares of the financial services provider’s stock worth $2,320,000 after purchasing an additional 9,470 shares during the period. Finally, Kennedy Capital Management Inc. bought a new position in shares of Valley National Bancorp in the 1st quarter worth approximately $8,503,000. Hedge funds and other institutional investors own 61.89% of the company’s stock.

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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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