Valley National Bancorp (NYSE:VLY) – Equities researchers at Wedbush lifted their FY2019 earnings per share (EPS) estimates for shares of Valley National Bancorp in a report issued on Thursday. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $0.88 per share for the year, up from their prior forecast of $0.80.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Zacks’ 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 net margin of 19.91% and a return on equity of 8.27%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS.

VLY has been the topic of a number of other research reports. Royal Bank of Canada initiated coverage on Valley National Bancorp in a report on Thursday, December 21st. They set an “outperform” rating and a $14.00 price objective on the stock. Zacks Investment Research lowered Valley National Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $15.00 price objective on shares of Valley National Bancorp in a report on Friday, December 22nd. Finally, Piper Jaffray Companies upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 target price for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.21.

Shares of Valley National Bancorp (VLY) traded up $0.05 during midday trading on Friday, hitting $11.33. The stock had a trading volume of 2,456,300 shares, compared to its average volume of 2,210,633. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market cap of $3,040.00, a price-to-earnings ratio of 16.66 and a beta of 0.89. Valley National Bancorp has a fifty-two week low of $10.61 and a fifty-two week high of $12.82.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 22nd were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.44 annualized dividend and a yield of 3.88%. Valley National Bancorp’s payout ratio is 64.71%.

A number of large investors have recently made changes to their positions in VLY. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 purchasing an additional 817 shares during the period. Advisor Group Inc. boosted its stake 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 purchasing an additional 2,031 shares during the period. Ffcm LLC boosted its stake in 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 purchasing an additional 7,079 shares during the period. CIBC Asset Management Inc bought a new stake in Valley National Bancorp during the 3rd quarter valued at approximately $126,000. Finally, Csenge Advisory Group bought a new stake in Valley National Bancorp during the 3rd quarter valued at approximately $145,000. Hedge funds and other institutional investors own 63.83% 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.

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