Analysts Set Valley National Bancorp (NASDAQ:VLY) Target Price at $9.75

Shares of Valley National Bancorp (NASDAQ:VLY) have received an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $9.75.

Several analysts recently commented on VLY shares. Royal Bank of Canada lifted their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, Piper Sandler boosted their price target on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, October 25th.

Valley National Bancorp Stock Performance

VLY opened at $9.36 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.22. The business has a 50 day moving average of $8.90 and a 200-day moving average of $7.99. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 15.10 and a beta of 1.06.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The business had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same quarter last year, the firm posted $0.26 EPS. On average, equities research analysts expect that Valley National Bancorp will post 0.67 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.70%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Valley National Bancorp by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after purchasing an additional 337,416 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Valley National Bancorp by 193.2% during the 2nd quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock worth $69,233,000 after buying an additional 6,703,552 shares in the last quarter. Millennium Management LLC lifted its position in shares of Valley National Bancorp by 995.0% during the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock worth $19,374,000 after buying an additional 2,522,204 shares during the last quarter. Leeward Investments LLC MA grew its position in Valley National Bancorp by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock valued at $13,269,000 after acquiring an additional 101,099 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its stake in Valley National Bancorp by 32.3% during the second quarter. Stieven Capital Advisors L.P. now owns 1,100,066 shares of the company’s stock worth $7,678,000 after acquiring an additional 268,600 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

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.