Valley National Bancorp (NASDAQ:VLY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Valley National Bancorp (NASDAQ:VLY) had its price target lifted by JPMorgan Chase & Co. from $10.50 to $11.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler boosted their price objective 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. 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. Citigroup cut their price objective on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 31st. Barclays increased their price objective on shares of 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. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.56.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $10.17 on Friday. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.40 and a beta of 1.12. 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 firm’s 50 day simple moving average is $9.75 and its 200 day simple moving average is $9.05.

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 prior year, the firm posted $0.22 earnings per share. As a group, research analysts expect that Valley National Bancorp will post 0.64 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.33%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Hedge Funds Weigh In On Valley National Bancorp

Large investors have recently modified their holdings of the company. Townsquare Capital LLC boosted its position 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 valued at $130,000 after buying an additional 1,521 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of 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 acquiring an additional 1,564 shares in the last quarter. HighTower Advisors LLC grew its stake in Valley National Bancorp by 6.0% in the 3rd 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. GAMMA Investing LLC raised its stake in shares of Valley National Bancorp by 46.4% during the 3rd 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 period. Finally, Hennion & Walsh Asset Management Inc. grew its position in Valley National Bancorp by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock valued at $276,000 after buying an additional 2,154 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.