Barclays Forecasts Strong Price Appreciation for Valley National Bancorp (NASDAQ:VLY) Stock

Valley National Bancorp (NASDAQ:VLY) had its price target hoisted by Barclays from $10.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 4.96% from the stock’s previous close.

VLY has been the subject of a number of other research reports. Royal Bank of Canada upped their price objective 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. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Piper Sandler upped their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upgraded shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $10.50 to $11.00 in a research report on Monday, November 11th. Finally, Morgan Stanley increased their price target on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

Valley National Bancorp Stock Up 1.0 %

VLY stock opened at $10.48 on Thursday. The company has a fifty day moving average price of $9.63 and a 200 day moving average price of $8.38. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.22. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 16.90 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The firm had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same quarter in the prior year, the firm earned $0.26 EPS. Sell-side analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current year.

Institutional Trading of Valley National Bancorp

A number of hedge funds have recently made changes to their positions in VLY. Diversified Trust Co boosted its holdings in shares of Valley National Bancorp by 11.1% during the second quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock valued at $100,000 after acquiring an additional 1,435 shares during the period. Townsquare Capital LLC boosted its holdings 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 acquiring an additional 1,521 shares during the period. Blue Trust Inc. boosted its holdings in shares of Valley National Bancorp by 48.2% during 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 during the period. HighTower Advisors LLC boosted 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 valued at $291,000 after acquiring an additional 1,806 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Valley National Bancorp by 46.4% during the third 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 during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Company Profile

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.