Valley National Bancorp (NASDAQ:VLY) Rating Increased to Overweight at Piper Sandler

Valley National Bancorp (NASDAQ:VLY) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The firm currently has a $11.00 price target on the stock. Piper Sandler’s price target indicates a potential upside of 20.75% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Barclays lifted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Royal Bank of Canada increased their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a research report on Thursday, January 2nd. Finally, Citigroup increased their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Valley National Bancorp has an average rating of “Hold” and a consensus price target of $10.78.

Valley National Bancorp Trading Down 0.5 %

Shares of Valley National Bancorp stock opened at $9.11 on Monday. The stock has a market capitalization of $5.10 billion, a PE ratio of 13.20 and a beta of 1.11. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10. The stock has a 50 day moving average price of $9.60 and a two-hundred day moving average price of $9.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same quarter last year, the company posted $0.22 earnings per share. As a group, equities analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of Valley National Bancorp stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $10.21, for a total value of $510,500.00. Following the sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at approximately $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Valley National Bancorp by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,674 shares of the company’s stock valued at $405,000 after purchasing an additional 2,125 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Valley National Bancorp during the fourth quarter valued at about $3,278,000. GTS Securities LLC boosted its position in Valley National Bancorp by 141.8% during the fourth quarter. GTS Securities LLC now owns 55,178 shares of the company’s stock worth $500,000 after purchasing an additional 187,178 shares during the period. Vise Technologies Inc. raised its position in shares of Valley National Bancorp by 75.4% in the fourth quarter. Vise Technologies Inc. now owns 20,535 shares of the company’s stock valued at $186,000 after purchasing an additional 8,828 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Valley National Bancorp by 20.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,189,774 shares of the company’s stock valued at $10,779,000 after buying an additional 199,097 shares in the last quarter. 61.00% of the stock is 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.