JPMorgan Chase & Co. Lowers Valley National Bancorp (NASDAQ:VLY) Price Target to $10.50

Valley National Bancorp (NASDAQ:VLY) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $11.50 to $10.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 18.64% from the company’s current price.

A number of other equities analysts also recently weighed in on VLY. Wedbush reissued a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a 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. Morgan Stanley lifted their price target on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Barclays increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Stephens reiterated an “overweight” rating and set a $12.50 price target on shares of Valley National Bancorp in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.39.

Valley National Bancorp Stock Down 2.3 %

Valley National Bancorp stock traded down $0.21 during mid-day trading on Tuesday, reaching $8.85. The stock had a trading volume of 3,397,713 shares, compared to its average volume of 6,132,039. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.10. The stock’s 50-day simple moving average is $9.90 and its 200-day simple moving average is $8.82. The firm has a market capitalization of $4.51 billion, a PE ratio of 14.27 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same period in the prior year, the business posted $0.26 earnings per share. On average, sell-side analysts forecast that Valley National Bancorp will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Valley National Bancorp by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 1,494,390 shares of the company’s stock worth $13,539,000 after purchasing an additional 439,831 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Valley National Bancorp by 170.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 67,861 shares of the company’s stock worth $615,000 after purchasing an additional 42,731 shares during the period. Pine Valley Investments Ltd Liability Co bought a new stake in Valley National Bancorp in the third quarter valued at approximately $154,000. Geode Capital Management LLC boosted its stake in shares of Valley National Bancorp by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock valued at $101,170,000 after purchasing an additional 300,385 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of Valley National Bancorp by 14.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 20,337 shares of the company’s stock worth $179,000 after purchasing an additional 2,585 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

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.