Keefe, Bruyette & Woods Issues Positive Forecast for Valley National Bancorp (NASDAQ:VLY) Stock Price

Valley National Bancorp (NASDAQ:VLYGet Free Report) had its target price raised by research analysts at Keefe, Bruyette & Woods from $15.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 10.14% from the company’s previous close.

Several other equities analysts have also issued reports on VLY. Barclays lifted their target price on shares of Valley National Bancorp from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $15.00 to $17.50 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Cantor Fitzgerald increased their target price on Valley National Bancorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Truist Financial raised their price objective on shares of Valley National Bancorp from $15.50 to $16.50 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Valley National Bancorp in a research report on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Valley National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.07.

Check Out Our Latest Stock Analysis on Valley National Bancorp

Valley National Bancorp Trading Up 0.5%

Shares of NASDAQ VLY traded up $0.08 during midday trading on Friday, hitting $14.53. 6,271,847 shares of the company traded hands, compared to its average volume of 7,283,214. Valley National Bancorp has a 12-month low of $8.95 and a 12-month high of $15.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day moving average price of $14.19 and a 200 day moving average price of $13.23. The firm has a market cap of $8.05 billion, a P/E ratio of 13.11 and a beta of 1.03.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The firm had revenue of $560.74 million for the quarter, compared to analysts’ expectations of $557.16 million. Valley National Bancorp had a return on equity of 8.68% and a net margin of 18.61%.The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. As a group, analysts expect that Valley National Bancorp will post 1.3 earnings per share for the current year.

Insider Buying and Selling

In other Valley National Bancorp news, COO Russell Barrett sold 90,537 shares of Valley National Bancorp stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $13.54, for a total value of $1,225,870.98. Following the completion of the sale, the chief operating officer owned 64,167 shares of the company’s stock, valued at approximately $868,821.18. The trade was a 58.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mitchell L. Crandell sold 25,495 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $14.63, for a total value of $372,991.85. Following the transaction, the chief accounting officer directly owned 76,116 shares in the company, valued at $1,113,577.08. The trade was a 25.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.06% of the company’s stock.

Institutional Trading of Valley National Bancorp

Several large investors have recently added to or reduced their stakes in VLY. Revolve Wealth Partners LLC purchased a new position in shares of Valley National Bancorp during the 2nd quarter worth $1,013,000. GAMMA Investing LLC raised its stake in shares of Valley National Bancorp by 5.7% in the second quarter. GAMMA Investing LLC now owns 15,999 shares of the company’s stock worth $234,000 after buying an additional 863 shares during the period. Parallel Advisors LLC lifted its position in shares of Valley National Bancorp by 41.8% during the 1st quarter. Parallel Advisors LLC now owns 6,163 shares of the company’s stock valued at $76,000 after buying an additional 1,816 shares in the last quarter. Alpine Woods Capital Investors LLC bought a new position in shares of Valley National Bancorp during the 1st quarter valued at approximately $330,000. Finally, Cim Investment Management Inc. increased its holdings in Valley National Bancorp by 42.0% in the 1st quarter. Cim Investment Management Inc. now owns 29,485 shares of the company’s stock worth $362,000 after acquiring an additional 8,728 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors.

Key Stories Impacting Valley National Bancorp

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About Valley National Bancorp

(Get Free Report)

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.

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Analyst Recommendations for Valley National Bancorp (NASDAQ:VLY)

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