Valley National Bancorp (NASDAQ:VLY) Price Target Cut to $10.50 by Analysts at JPMorgan Chase & Co.

Valley National Bancorp (NASDAQ:VLY) had its target price reduced by research analysts at JPMorgan Chase & Co. from $11.50 to $10.50 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 16.80% from the stock’s current price.

Several other research firms also recently weighed in on VLY. Wedbush reiterated a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Barclays increased their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Stephens reaffirmed an “overweight” rating and issued a $12.50 target price on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Finally, Citigroup lowered 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 note on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.39.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $8.99 on Tuesday. The stock has a market cap of $4.58 billion, a PE ratio of 14.50 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The stock has a fifty day simple moving average of $9.87 and a 200-day simple moving average of $8.84.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The company 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 quarter in the prior year, the company posted $0.26 earnings per share. Equities analysts anticipate that Valley National Bancorp will post 0.65 earnings per share for the current year.

Institutional Trading of Valley National Bancorp

A number of institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new position in shares of Valley National Bancorp during the third quarter worth about $25,000. Blue Trust Inc. grew its stake in Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after buying an additional 1,564 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Valley National Bancorp by 416.8% in the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after buying an additional 5,001 shares during the last quarter. GAMMA Investing LLC lifted its stake in Valley National Bancorp by 46.4% in the third 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 last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Valley National Bancorp by 557.0% in the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock valued at $79,000 after acquiring an additional 7,358 shares during the period. 61.00% of the stock is owned by hedge funds and other 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.