Valley National Bancorp (VLY) Given Average Recommendation of “Hold” by Analysts
Valley National Bancorp (NYSE:VLY) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $12.60.
Several research firms have weighed in on VLY. Zacks Investment Research raised Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Hovde Group raised Valley National Bancorp from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $13.00 target price on shares of Valley National Bancorp in a report on Friday, September 29th. BidaskClub lowered Valley National Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Valley National Bancorp in a report on Wednesday, August 9th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Valley National Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 817 shares during the period. Advisor Group Inc. lifted its position in shares of Valley National Bancorp by 26.2% during the 2nd quarter. Advisor Group Inc. now owns 9,795 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 2,031 shares during the period. MCF Advisors LLC bought a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $118,000. HRT Financial LLC bought a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $120,000. Finally, Ffcm LLC lifted its position in shares of Valley National Bancorp by 222.4% during the 2nd quarter. Ffcm LLC now owns 10,262 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 7,079 shares during the period. Institutional investors and hedge funds own 62.33% of the company’s stock.
Valley National Bancorp (NYSE VLY) traded up $0.03 during trading hours on Friday, hitting $11.65. The company’s stock had a trading volume of 2,569,376 shares, compared to its average volume of 1,644,243. The firm has a market cap of $3,077.89, a price-to-earnings ratio of 16.41 and a beta of 0.89. Valley National Bancorp has a 52-week low of $9.61 and a 52-week high of $12.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.98 and a quick ratio of 0.97.
Valley National Bancorp (NYSE:VLY) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The company had revenue of $193.00 million for the quarter, compared to analyst estimates of $195.03 million. Valley National Bancorp had a return on equity of 8.27% and a net margin of 19.91%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. equities research analysts forecast that Valley National Bancorp will post 0.69 EPS for the current year.
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.
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