Valley National Bancorp (NASDAQ:VLY) PT Raised to $10.00

Valley National Bancorp (NASDAQ:VLY) had its price target lifted by investment analysts at Wedbush from $9.00 to $10.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s price target suggests a potential upside of 15.47% from the company’s previous close. Wedbush also issued estimates for Valley National Bancorp’s Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.19 EPS, FY2024 earnings at $0.69 EPS, Q1 2025 earnings at $0.23 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.00 EPS and FY2026 earnings at $1.15 EPS.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada upped their price target on Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Keefe, Bruyette & Woods raised their target price on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research note on Friday, July 26th. Finally, Barclays dropped their price target on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Valley National Bancorp presently has an average rating of “Hold” and an average target price of $8.56.

Valley National Bancorp Stock Down 1.9 %

Shares of Valley National Bancorp stock opened at $8.66 on Tuesday. The company’s fifty day simple moving average is $8.32 and its two-hundred day simple moving average is $7.69. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.22. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The company has a market cap of $4.41 billion, a P/E ratio of 10.19 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The company had revenue of $884.68 million during the quarter, compared to the consensus estimate of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period in the previous year, the company earned $0.28 earnings per share. Research analysts anticipate that Valley National Bancorp will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Valley National Bancorp by 193.2% during the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after purchasing an additional 6,703,552 shares during the period. Norges Bank bought a new position in shares of Valley National Bancorp during the 4th quarter valued at $49,734,000. Millennium Management LLC boosted its stake in shares of Valley National Bancorp by 995.0% in the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock worth $19,374,000 after buying an additional 2,522,204 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new position in shares of Valley National Bancorp in the 1st quarter worth $6,618,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Valley National Bancorp by 378.4% in the first quarter. BNP Paribas Financial Markets now owns 612,314 shares of the company’s stock worth $4,874,000 after acquiring an additional 484,332 shares during the period. 61.00% of the stock is owned by institutional investors.

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.