Valley National Bancorp (VLY) – Research Analysts’ Recent Ratings Changes

Posted by Stephan Jacobs on Nov 13th, 2024

Several brokerages have updated their recommendations and price targets on shares of Valley National Bancorp (NASDAQ: VLY) in the last few weeks:

11/12/2024 – Valley National Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
11/11/2024 – Valley National Bancorp was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $11.00 price target on the stock, up previously from $10.50.
10/31/2024 – Valley National Bancorp was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating. They now have a $10.00 price target on the stock, up previously from $9.00.
10/25/2024 – Valley National Bancorp had its price target raised by analysts at Barclays PLC from $8.00 to $9.00. They now have an “underweight” rating on the stock.
10/25/2024 – Valley National Bancorp had its price target raised by analysts at Royal Bank of Canada from $10.00 to $11.00. They now have an “outperform” rating on the stock.
10/25/2024 – Valley National Bancorp had its price target raised by analysts at Piper Sandler from $9.00 to $10.00. They now have a “neutral” rating on the stock.
10/25/2024 – Valley National Bancorp had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $10.00 price target on the stock.
10/9/2024 – Valley National Bancorp had its price target raised by analysts at JPMorgan Chase & Co. from $9.00 to $10.00. They now have a “neutral” rating on the stock.
9/30/2024 – Valley National Bancorp had its price target raised by analysts at Morgan Stanley from $9.50 to $10.00. They now have an “equal weight” rating on the stock.
9/24/2024 – Valley National Bancorp had its price target raised by analysts at Wedbush from $9.00 to $10.00. They now have a “neutral” rating on the stock.

Valley National Bancorp Stock Up 0.6 %

NASDAQ:VLY traded up $0.06 on Wednesday, hitting $10.20. 4,984,272 shares of the company’s stock traded hands, compared to its average volume of 6,143,626. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The firm has a 50-day moving average price of $9.08 and a 200-day moving average price of $8.08. The company has a market cap of $5.19 billion, a PE ratio of 16.45 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The business had revenue of $921.22 million during the quarter, compared to analyst estimates of $467.87 million. During the same period in the previous year, the company earned $0.26 EPS. Equities analysts anticipate that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp’s dividend payout ratio is presently 70.97%.

Institutional Trading of Valley National Bancorp

Several large investors have recently made changes to their positions in VLY. Dimensional Fund Advisors LP lifted its stake in Valley National Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock valued at $179,537,000 after buying an additional 337,416 shares during the period. AQR Capital Management LLC increased its holdings in shares of Valley National Bancorp by 193.2% in the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock worth $69,233,000 after acquiring an additional 6,703,552 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Valley National Bancorp by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,971,223 shares of the company’s stock worth $63,159,000 after acquiring an additional 98,574 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Valley National Bancorp by 1,501.7% in the third quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock worth $51,431,000 after acquiring an additional 5,322,278 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Valley National Bancorp by 995.0% in the second quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock worth $19,374,000 after acquiring an additional 2,522,204 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

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.