Valley National Bancorp (NASDAQ:VLY) Stock Price Expected to Rise, Citigroup Analyst Says

Valley National Bancorp (NASDAQ:VLY) had its price objective raised by research analysts at Citigroup from $10.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 7.84% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Stephens restated an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada upped their price objective on shares of Valley National Bancorp from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Piper Sandler raised their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.67.

Valley National Bancorp Trading Down 1.2 %

Shares of NASDAQ VLY opened at $10.20 on Monday. The stock has a fifty day simple moving average of $9.75 and a 200-day simple moving average of $9.12. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $5.20 billion, a PE ratio of 16.45 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, January 23rd. The company reported $0.13 earnings per share (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 in the previous year, the business earned $0.22 earnings per share. On average, equities analysts forecast that Valley National Bancorp will post 0.64 earnings per share for the current year.

Institutional Trading of Valley National Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in VLY. Empowered Funds LLC raised its stake in shares of Valley National Bancorp by 12.0% in the fourth quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock valued at $116,000 after acquiring an additional 1,371 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Valley National Bancorp by 11.8% during the third quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after buying an additional 1,521 shares during the last quarter. Blue Trust Inc. increased its holdings in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after purchasing an additional 1,564 shares during the last quarter. HighTower Advisors LLC grew 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 valued at $291,000 after purchasing an additional 1,806 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Valley National Bancorp by 46.4% in the 3rd 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 period. 61.00% of the stock is currently owned by institutional investors.

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.