Valley National Bancorp (NASDAQ:VLY) Price Target Cut to $10.50 by Analysts at JPMorgan Chase & Co.

Valley National Bancorp (NASDAQ:VLY) had its price objective cut by JPMorgan Chase & Co. from $11.50 to $10.50 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently weighed in on the company. Citigroup decreased their price target on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, December 31st. Royal Bank of Canada upped their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley lifted their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Barclays raised their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.39.

Valley National Bancorp Stock Down 1.8 %

Valley National Bancorp stock opened at $8.90 on Tuesday. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.10. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $9.88 and a 200-day moving average of $8.83. The stock has a market capitalization of $4.53 billion, a PE ratio of 14.35 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting 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 company had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. During the same period in the prior year, the firm earned $0.26 earnings per share. On average, equities research analysts anticipate that Valley National Bancorp will post 0.65 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.11 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.94%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Institutional Trading of Valley National Bancorp

A number of institutional investors have recently bought and sold shares of the business. Townsquare Capital LLC boosted its stake 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 buying an additional 1,521 shares during the period. Blue Trust Inc. boosted its stake in shares of Valley National Bancorp by 48.2% in the 3rd 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 in the last quarter. HighTower Advisors LLC increased its holdings in shares of 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 buying an additional 1,806 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $62,000 after acquiring an additional 2,151 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in Valley National Bancorp by 7.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock worth $276,000 after acquiring an additional 2,154 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

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.