Piper Sandler Upgrades Valley National Bancorp (NASDAQ:VLY) to Overweight

Valley National Bancorp (NASDAQ:VLY) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a $11.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 24.29% from the stock’s current price.

A number of other equities research analysts have also issued reports on VLY. Citigroup boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Barclays boosted their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Stephens reaffirmed an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a research report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada boosted their target price on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.78.

Valley National Bancorp Stock Up 0.5 %

VLY opened at $8.85 on Monday. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s fifty day moving average is $9.59 and its 200-day moving average is $9.49. The company has a market capitalization of $4.96 billion, a PE ratio of 12.83 and a beta of 1.11.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same period in the prior year, the company posted $0.22 earnings per share. On average, equities analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Insider Activity

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $10.21, for a total value of $510,500.00. Following the transaction, the executive vice president now owns 495,249 shares in the company, valued at $5,056,492.29. The trade was a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Valley National Bancorp

Large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of Valley National Bancorp during the 4th quarter worth about $25,000. Point72 Hong Kong Ltd acquired a new position in shares of Valley National Bancorp during the 4th quarter worth about $39,000. Optiver Holding B.V. lifted its position in shares of Valley National Bancorp by 80.9% during the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock worth $46,000 after purchasing an additional 2,271 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Valley National Bancorp during the 4th quarter worth about $102,000. Finally, Sapient Capital LLC acquired a new position in shares of Valley National Bancorp during the 4th quarter worth about $103,000. Institutional investors own 61.00% of the company’s stock.

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.