Valley National Bancorp (VLY) Research Coverage Started at Citigroup

Share on StockTwits

Citigroup started coverage on shares of Valley National Bancorp (NYSE:VLY) in a research note published on Monday morning, Marketbeat reports. The firm issued a neutral rating and a $14.00 price objective on the financial services provider’s stock.

A number of other equities analysts also recently commented on VLY. ValuEngine upgraded Valley National Bancorp from a hold rating to a buy rating in a report on Thursday, March 1st. Zacks Investment Research downgraded Valley National Bancorp from a buy rating to a hold rating in a report on Thursday, March 8th. Sandler O’Neill upgraded Valley National Bancorp from a hold rating to a buy rating in a report on Thursday, April 26th. Finally, Morgan Stanley upped their target price on Valley National Bancorp from $13.50 to $14.00 and gave the company an equal weight rating in a report on Monday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $13.88.

NYSE VLY opened at $12.72 on Monday. The company has a market cap of $4.21 billion, a P/E ratio of 18.43 and a beta of 0.91. Valley National Bancorp has a 12 month low of $10.61 and a 12 month high of $13.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.79.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $239.85 million for the quarter, compared to analysts’ expectations of $238.74 million. Valley National Bancorp had a net margin of 15.41% and a return on equity of 8.20%. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. sell-side analysts predict that Valley National Bancorp will post 0.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Friday, June 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.44 dividend on an annualized basis and a yield of 3.46%. Valley National Bancorp’s dividend payout ratio (DPR) is 63.77%.

In other news, Director Gerald H. Lipkin sold 260,065 shares of the firm’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $12.81, for a total transaction of $3,331,432.65. Following the completion of the transaction, the director now directly owns 889 shares in the company, valued at $11,388.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Korde sold 5,000 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $13.27, for a total value of $66,350.00. Following the transaction, the director now owns 659,111 shares of the company’s stock, valued at $8,746,402.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 516,365 shares of company stock valued at $6,638,571. 3.45% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of VLY. Schwab Charles Investment Management Inc. increased its holdings in shares of Valley National Bancorp by 3.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,650,152 shares of the financial services provider’s stock valued at $18,515,000 after acquiring an additional 59,428 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Valley National Bancorp by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 78,270 shares of the financial services provider’s stock valued at $878,000 after buying an additional 4,748 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Valley National Bancorp by 313.7% during the fourth quarter. Teacher Retirement System of Texas now owns 90,106 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 68,328 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Valley National Bancorp by 4.2% during the fourth quarter. California Public Employees Retirement System now owns 654,936 shares of the financial services provider’s stock valued at $7,348,000 after buying an additional 26,518 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Valley National Bancorp by 2.4% during the fourth quarter. Swiss National Bank now owns 449,700 shares of the financial services provider’s stock valued at $5,046,000 after buying an additional 10,500 shares during the last quarter. Hedge funds and other institutional investors own 54.73% of the company’s stock.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.

Analyst Recommendations for Valley National Bancorp (NYSE:VLY)

Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand
Yankees Former Ace Ron Guidry Says Luis Severino Will Break His Records
Yankees Former Ace Ron Guidry Says Luis Severino Will Break His Records
Ruptured Biceps Tendon Ends Miguel Cabrera’s Season
Ruptured Biceps Tendon Ends Miguel Cabrera’s Season
Dodgers Getting Big Unexpected Lift from Three Players
Dodgers Getting Big Unexpected Lift from Three Players


Leave a Reply

 
© 2006-2018 BBNS.