Stephens Reaffirms “Overweight” Rating for Valley National Bancorp (NASDAQ:VLY)

Valley National Bancorp (NASDAQ:VLY)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a research note issued on Thursday,Benzinga reports. They presently have a $12.50 target price on the stock. Stephens’ price target would indicate a potential upside of 37.97% from the company’s current price.

A number of other equities research analysts also recently weighed in on VLY. Morgan Stanley boosted their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Barclays increased their price target on 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. Citigroup reduced their price objective on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. 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 research report on Friday, October 25th. Finally, 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. 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $10.44.

Valley National Bancorp Trading Down 0.7 %

NASDAQ:VLY opened at $9.06 on Thursday. The company has a market cap of $4.61 billion, a PE ratio of 14.61 and a beta of 1.09. The business’s 50 day moving average is $9.93 and its two-hundred day moving average is $8.75. 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 52 week low of $6.47 and a 52 week high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $921.22 million for the quarter, compared to analysts’ expectations of $467.87 million. During the same period last year, the business posted $0.26 earnings per share. On average, analysts predict that Valley National Bancorp will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Valley National Bancorp in the third quarter worth about $25,000. Blue Trust Inc. raised its holdings in shares of Valley National Bancorp by 48.2% in the 3rd 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. Hexagon Capital Partners LLC lifted its stake in Valley National Bancorp by 416.8% during the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after purchasing an additional 5,001 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after buying an additional 2,151 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its position in Valley National Bancorp by 147.7% in the second quarter. Wolverine Asset Management LLC now owns 9,325 shares of the company’s stock worth $65,000 after buying an additional 5,560 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

About Valley National Bancorp

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.