JPMorgan Chase & Co. Has Lowered Expectations for Valley National Bancorp (NASDAQ:VLY) Stock Price

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

Several other equities analysts have also commented on the company. Royal Bank of Canada raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Stephens restated an “overweight” rating and issued a $12.50 price objective on shares of Valley National Bancorp in a report on Thursday, January 2nd. Morgan Stanley raised their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Barclays lifted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.39.

Valley National Bancorp Trading Down 2.3 %

Shares of NASDAQ:VLY traded down $0.21 on Tuesday, hitting $8.85. The company had a trading volume of 3,397,713 shares, compared to its average volume of 6,132,039. The firm’s 50-day simple moving average is $9.90 and its two-hundred day simple moving average is $8.82. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 14.27 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.10.

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. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The business had revenue of $921.22 million during the quarter, compared to analyst estimates of $467.87 million. During the same period last year, the business posted $0.26 earnings per share. Equities analysts anticipate that Valley National Bancorp will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VLY. Townsquare Capital LLC lifted its stake in shares of Valley National Bancorp by 11.8% in the 3rd quarter. Townsquare Capital LLC now owns 14,365 shares of the company’s stock worth $130,000 after purchasing an additional 1,521 shares during the period. Blue Trust Inc. raised its position in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after acquiring an additional 1,564 shares during the period. HighTower Advisors LLC grew its position in shares of Valley National Bancorp by 6.0% during the 3rd 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. GAMMA Investing LLC increased its stake in shares of Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after purchasing an additional 2,151 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Valley National Bancorp by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock valued at $276,000 after purchasing an additional 2,154 shares in the last quarter. Institutional investors 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.