JPMorgan Chase & Co. Issues Positive Forecast for Valley National Bancorp (NASDAQ:VLY) Stock Price

Valley National Bancorp (NASDAQ:VLY) had its price objective boosted by JPMorgan Chase & Co. from $10.50 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.16% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Royal Bank of Canada upped their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a research note on Friday, October 25th. Stephens reissued an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Piper Sandler lifted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, 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 report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has an average rating of “Hold” and a consensus target price of $10.56.

Valley National Bancorp Stock Up 4.0 %

VLY stock opened at $10.17 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The company’s 50 day simple moving average is $9.75 and its 200-day simple moving average is $9.06. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.10. The firm has a market capitalization of $5.18 billion, a PE ratio of 16.40 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period last year, the firm posted $0.22 EPS. Equities analysts expect that Valley National Bancorp will post 0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valley National Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Valley National Bancorp in the third quarter valued at $25,000. R Squared Ltd acquired a new position in Valley National Bancorp in the fourth quarter worth about $25,000. Blue Trust Inc. grew its stake in Valley National Bancorp by 48.2% in 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. Hexagon Capital Partners LLC increased its holdings 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. Finally, GAMMA Investing LLC raised its stake in Valley National Bancorp by 46.4% during 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 in the last quarter. Institutional investors and hedge funds 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.