Sandler O’Neill reissued their buy rating on shares of Valley National Bancorp (NYSE:VLY) in a research report released on Friday, July 27th. The brokerage currently has a $14.00 price target on the financial services provider’s stock.

A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada reissued a buy rating and issued a $13.00 price objective on shares of Valley National Bancorp in a research report on Friday, July 27th. Zacks Investment Research raised shares of Valley National Bancorp from a sell rating to a hold rating in a research report on Sunday, July 15th. Citigroup initiated coverage on shares of Valley National Bancorp in a research report on Monday, June 18th. They issued a neutral rating and a $14.00 target price on the stock. ValuEngine downgraded shares of Valley National Bancorp from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Finally, Morgan Stanley increased their target price on shares of Valley National Bancorp from $13.50 to $14.00 and gave the company an equal weight rating in a research report on Monday, April 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $13.97.

Shares of NYSE:VLY traded down $0.07 during trading hours on Friday, reaching $11.69. The stock had a trading volume of 1,028,384 shares, compared to its average volume of 1,983,096. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $13.38. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70. The company has a market cap of $3.90 billion, a PE ratio of 16.94 and a beta of 0.86.

Valley National Bancorp (NYSE:VLY) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.22. Valley National Bancorp had a net margin of 16.35% and a return on equity of 8.56%. The company had revenue of $248.82 million for the quarter, compared to the consensus estimate of $245.72 million. During the same period in the prior year, the firm posted $0.18 EPS. equities research analysts expect that Valley National Bancorp will post 0.86 EPS for the current year.

In other Valley National Bancorp news, EVP Ronald H. Janis purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was purchased at an average price of $11.64 per share, for a total transaction of $116,400.00. Following the purchase, the executive vice president now directly owns 37,878 shares in the company, valued at $440,899.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald H. Lipkin sold 260,065 shares of the stock in a transaction on Friday, May 25th. The stock was sold at an average price of $12.81, for a total transaction of $3,331,432.65. Following the sale, the director now owns 889 shares of the company’s stock, valued at approximately $11,388.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 341,065 shares of company stock valued at $4,401,743. 3.45% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Mcrae Capital Management Inc. increased its holdings in shares of Valley National Bancorp by 29.6% in the 2nd quarter. Mcrae Capital Management Inc. now owns 19,281 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 4,400 shares in the last quarter. Condor Capital Management increased its holdings in shares of Valley National Bancorp by 14.5% in the 2nd quarter. Condor Capital Management now owns 36,105 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 4,572 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Valley National Bancorp by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 183,990 shares of the financial services provider’s stock valued at $2,237,000 after purchasing an additional 4,926 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Valley National Bancorp by 58.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,749 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 5,429 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Valley National Bancorp by 0.9% in the 1st quarter. California Public Employees Retirement System now owns 661,091 shares of the financial services provider’s stock valued at $8,237,000 after purchasing an additional 6,155 shares in the last quarter. Institutional investors own 54.51% of the company’s stock.

About Valley National Bancorp

Valley National Bancorp operates as the holding company for the Valley National Bank that provides commercial, retail, trust, and investment services. The company operates through Commercial Lending, Consumer Lending, and Investment Management segments. Its deposit products include non-interest bearing, savings, NOW, and money market deposits, as well as certificates of deposit.

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Analyst Recommendations for Valley National Bancorp (NYSE:VLY)

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