Valley National Bancorp (NASDAQ:VLY) Receives “Overweight” Rating from Stephens

Valley National Bancorp (NASDAQ:VLY)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $12.50 price target on the stock. Stephens’ price target points to a potential upside of 38.12% from the company’s previous close.

VLY has been the topic of several other research reports. Piper Sandler increased their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 11th. Royal Bank of Canada boosted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays upped their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Citigroup dropped their price objective on shares of Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.44.

Valley National Bancorp Stock Up 1.3 %

Shares of NASDAQ:VLY opened at $9.05 on Thursday. The company’s fifty day moving average is $9.91 and its 200-day moving average is $8.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The company has a market capitalization of $4.61 billion, a PE ratio of 14.60 and a beta of 1.09.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $921.22 million for the quarter, compared to analysts’ expectations of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the prior year, the firm earned $0.26 earnings per share. Equities research analysts predict that Valley National Bancorp will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Townsquare Capital LLC grew its holdings in Valley National Bancorp by 11.8% during the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock valued at $130,000 after purchasing an additional 1,521 shares during the period. Blue Trust Inc. boosted its position in shares of Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after purchasing an additional 1,564 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Valley National Bancorp by 6.0% in the 3rd quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock valued at $291,000 after buying an additional 1,806 shares during the period. GAMMA Investing LLC grew its holdings in shares of Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after buying an additional 2,151 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Valley National Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock valued at $276,000 after buying an additional 2,154 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.