Valley National Bancorp (NASDAQ:VLY) Downgraded to “Sell” Rating by StockNews.com

Valley National Bancorp (NASDAQ:VLY) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

VLY has been the topic of several other reports. JPMorgan Chase & Co. upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $10.50 to $11.00 in a research note on Monday, November 11th. Royal Bank of Canada increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler increased their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Wedbush reiterated a “neutral” rating and set a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Hold” and a consensus target price of $9.88.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock opened at $10.15 on Tuesday. 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 firm has a market cap of $5.17 billion, a price-to-earnings ratio of 16.37 and a beta of 1.07. The stock’s 50-day moving average is $9.32 and its 200-day moving average is $8.20. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $467.87 million. During the same quarter in the prior year, the firm posted $0.26 EPS. Equities analysts predict that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of Valley National Bancorp

Several institutional investors and hedge funds have recently modified their holdings of VLY. Diversified Trust Co grew its position in Valley National Bancorp by 11.1% in the 2nd quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock worth $100,000 after purchasing an additional 1,435 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Valley National Bancorp by 11.8% in the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock valued at $130,000 after acquiring an additional 1,521 shares in the last quarter. Blue Trust Inc. increased its position in shares of Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after acquiring an additional 1,564 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Valley National Bancorp by 6.0% during the third quarter. HighTower Advisors LLC now owns 31,831 shares of the company’s stock worth $291,000 after acquiring an additional 1,806 shares during the period. Finally, GAMMA Investing LLC boosted its position in Valley National Bancorp by 46.4% in the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after purchasing an additional 2,151 shares during the last quarter. 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.