Valley National Bancorp (NASDAQ:VLY) Price Target Lowered to $10.00 at Barclays

Valley National Bancorp (NASDAQ:VLY) had its price target lowered by equities research analysts at Barclays from $11.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 26.94% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Stephens restated an “overweight” rating and issued a $12.50 price target on shares of Valley National Bancorp in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price objective 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. Royal Bank of Canada boosted their price objective on Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, Piper Sandler raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Valley National Bancorp has an average rating of “Hold” and an average target price of $10.67.

Valley National Bancorp Stock Performance

NASDAQ VLY traded down $0.23 during mid-day trading on Tuesday, reaching $7.88. 12,720,836 shares of the stock were exchanged, compared to its average volume of 6,852,489. The company has a market capitalization of $4.41 billion, a P/E ratio of 11.41 and a beta of 1.06. 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 business’s 50 day moving average is $9.40 and its 200-day moving average is $9.51. 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 posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same quarter in the previous year, the company earned $0.22 EPS. On average, equities research analysts forecast that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Insider Activity at Valley National Bancorp

In other Valley National Bancorp news, EVP Joseph Chillura sold 50,000 shares of the 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 sale, the executive vice president now owns 495,249 shares of the company’s stock, valued at $5,056,492.29. This trade represents a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.88% of the stock is currently owned by company insiders.

Institutional Trading of Valley National Bancorp

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Valley National Bancorp by 988.5% during the 1st quarter. GAMMA Investing LLC now owns 82,899 shares of the company’s stock worth $737,000 after acquiring an additional 75,283 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Valley National Bancorp by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,674 shares of the company’s stock worth $405,000 after purchasing an additional 2,125 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Valley National Bancorp in the fourth quarter valued at $3,278,000. GTS Securities LLC raised its stake in Valley National Bancorp by 141.8% in the fourth quarter. GTS Securities LLC now owns 55,178 shares of the company’s stock valued at $500,000 after buying an additional 187,178 shares in the last quarter. Finally, Vise Technologies Inc. lifted its holdings in Valley National Bancorp by 75.4% during the 4th quarter. Vise Technologies Inc. now owns 20,535 shares of the company’s stock worth $186,000 after buying an additional 8,828 shares during the last quarter. 61.00% of the stock is currently owned by hedge funds and other 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.