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

According to Zacks, “Valley National Bancorp is a bank holding company whose principal subsidiary is Valley National Bank. Valley National Bank provides a full range of commercial and retail banking services through branch offices located in northern New Jersey. These services include the following: the acceptance of demand, savings and time deposits; extension of consumer, real estate, Small Business Administration and other commercial credits; title insurance; investment services; and full personal and corporate trust, as well as pension and fiduciary services. “

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $13.00 target price on shares of Valley National Bancorp in a research note on Friday, September 29th. BidaskClub lowered Valley National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Valley National Bancorp in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.67.

Shares of Valley National Bancorp (NYSE VLY) opened at $11.67 on Wednesday. The stock has a market capitalization of $3,151.29, a price-to-earnings ratio of 16.79 and a beta of 0.89. 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 has a one year low of $10.61 and a one year high of $12.82.

Valley National Bancorp (NYSE:VLY) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $193.00 million during the quarter, compared to the consensus estimate of $195.03 million. Valley National Bancorp had a net margin of 19.91% and a return on equity of 8.27%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. equities research analysts predict that Valley National Bancorp will post 0.69 EPS for the current year.

Several large investors have recently added to or reduced their stakes in VLY. Parametrica Management Ltd purchased a new stake in Valley National Bancorp during the 2nd quarter valued at about $104,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Valley National Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,128 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 817 shares during the period. Mercer Capital Advisers Inc. purchased a new stake in Valley National Bancorp during the 2nd quarter valued at about $112,000. Advisor Group Inc. boosted its holdings in 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. Finally, MCF Advisors LLC purchased a new stake in Valley National Bancorp during the 2nd quarter valued at about $118,000. Institutional investors own 63.90% of the company’s stock.

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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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