Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $10.00 at Wedbush

Valley National Bancorp (NASDAQ:VLY) had its price target boosted by Wedbush from $9.00 to $10.00 in a report issued on Tuesday, Benzinga reports. Wedbush currently has a neutral rating on the stock. Wedbush also issued estimates for Valley National Bancorp’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.19 EPS, FY2024 earnings at $0.69 EPS, Q1 2025 earnings at $0.23 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.00 EPS and FY2026 earnings at $1.15 EPS.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada boosted their price target on Valley National Bancorp from $8.00 to $9.00 and gave the company an outperform rating in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on shares of Valley National Bancorp from $8.50 to $8.00 and set a neutral rating for the company in a research note on Thursday, June 27th. Keefe, Bruyette & Woods raised their price target on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a market perform rating in a research report on Friday, July 26th. Barclays decreased their price objective on shares of Valley National Bancorp from $8.00 to $7.00 and set an underweight rating for the company in a research report on Monday, June 24th. Finally, Morgan Stanley upgraded Valley National Bancorp from an underweight rating to an equal weight rating and raised their target price for the company from $8.00 to $9.50 in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Valley National Bancorp presently has an average rating of Hold and an average target price of $8.56.

Valley National Bancorp Stock Down 0.5 %

NASDAQ:VLY opened at $8.77 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.99 and a quick ratio of 0.99. The company’s fifty day moving average price is $8.36 and its 200-day moving average price is $7.70. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22. The firm has a market capitalization of $4.47 billion, a P/E ratio of 10.32 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). The company had revenue of $884.68 million for the quarter, compared to analyst estimates of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, equities research analysts anticipate that Valley National Bancorp will post 0.7 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, September 13th. Valley National Bancorp’s payout ratio is 51.76%.

Institutional Trading of Valley National Bancorp

A number of institutional investors have recently made changes to their positions in VLY. Vanguard Group Inc. boosted its position in Valley National Bancorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 45,625,380 shares of the company’s stock worth $495,492,000 after acquiring an additional 198,236 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Valley National Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after purchasing an additional 337,416 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Valley National Bancorp by 193.2% during the 2nd quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock worth $69,233,000 after purchasing an additional 6,703,552 shares during the last quarter. Norges Bank purchased a new stake in shares of Valley National Bancorp in the fourth quarter valued at approximately $49,734,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Valley National Bancorp by 6.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,814,048 shares of the company’s stock valued at $30,561,000 after purchasing an additional 160,854 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

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.