Valley National Bancorp (NYSE:VLY) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.60.

Several equities analysts have recently commented on the company. BidaskClub lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Wedbush reaffirmed a “neutral” rating and set a $12.00 target price on shares of Valley National Bancorp in a report on Tuesday, June 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $11.50 target price (up from $11.00) on shares of Valley National Bancorp in a report on Friday, July 7th. Zacks Investment Research lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, Keefe, Bruyette & Woods raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a report on Thursday, July 27th.

Valley National Bancorp (NYSE VLY) traded down 0.58% during midday trading on Wednesday, reaching $11.93. The company’s stock had a trading volume of 1,100,011 shares. The company has a market capitalization of $3.15 billion, a P/E ratio of 17.04 and a beta of 0.91. Valley National Bancorp has a 1-year low of $9.35 and a 1-year high of $12.82. The company has a 50 day moving average of $11.38 and a 200-day moving average of $11.63.

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

The company also recently declared a dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, September 14th. Valley National Bancorp’s payout ratio is currently 62.86%.

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In other news, Director Mary Guilfoile sold 5,140 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $11.92, for a total transaction of $61,268.80. Following the completion of the sale, the director now owns 258,719 shares in the company, valued at approximately $3,083,930.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.07% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Eqis Capital Management Inc. acquired a new stake in shares of Valley National Bancorp during the 3rd quarter valued at $151,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $168,000. Verition Fund Management LLC acquired a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $253,000. Sterling Capital Management LLC acquired a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $1,420,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Valley National Bancorp by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 100,459 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 1,284 shares during the last quarter. Institutional investors own 61.89% of the company’s stock.

About Valley National Bancorp

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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