Valley National Bancorp (NYSE:VLY) has been assigned an average recommendation of “Buy” from the ten research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $13.64.
A number of equities analysts recently weighed in on VLY shares. Royal Bank of Canada started coverage on Valley National Bancorp in a research note on Thursday, December 21st. They issued an “outperform” rating and a $14.00 price target on the stock. Zacks Investment Research cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $15.00 price target on shares of Valley National Bancorp in a research note on Friday, December 22nd. Piper Jaffray Companies raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price target on the stock in a research note on Friday, January 5th. Finally, Morgan Stanley lifted their price target on Valley National Bancorp from $13.00 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st.
Valley National Bancorp (NYSE:VLY) traded up $0.07 during trading hours on Tuesday, reaching $12.20. The company had a trading volume of 846,452 shares, compared to its average volume of 2,565,266. The firm has a market capitalization of $4,020.00, a price-to-earnings ratio of 21.02 and a beta of 0.96. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $12.82. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.01.
In other Valley National Bancorp news, Director Peter J. Baum acquired 3,433 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $12.70 per share, for a total transaction of $43,599.10. Following the transaction, the director now owns 41,086 shares of the company’s stock, valued at approximately $521,792.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.07% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH boosted its position in Valley National Bancorp by 118.8% during the 4th quarter. Allianz Asset Management GmbH now owns 221,902 shares of the financial services provider’s stock worth $2,489,000 after acquiring an additional 120,494 shares during the period. Derby & Company Inc. acquired a new stake in shares of Valley National Bancorp during the 4th quarter valued at about $204,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Valley National Bancorp during the 4th quarter valued at about $169,000. Ramsey Quantitative Systems acquired a new stake in shares of Valley National Bancorp during the 4th quarter valued at about $237,000. Finally, Virtu Financial LLC acquired a new stake in shares of Valley National Bancorp during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 63.49% 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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