Valley National Bancorp (VLY) Given Consensus Rating of “Hold” by Brokerages

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Valley National Bancorp (NYSE:VLY) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $13.69.

Several brokerages recently commented on VLY. Zacks Investment Research cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, April 27th. TheStreet raised Valley National Bancorp from a “c+” rating to a “b-” rating in a research report on Friday, February 8th.

NYSE VLY traded down $0.08 during trading hours on Friday, hitting $10.20. 436,911 shares of the company traded hands, compared to its average volume of 2,045,527. Valley National Bancorp has a twelve month low of $8.42 and a twelve month high of $13.37.

Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $326.32 million during the quarter, compared to analysts’ expectations of $253.23 million. During the same period in the previous year, the business earned $0.18 earnings per share.

In other news, Director Gerald Korde sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $10.19, for a total value of $31,589.00. Following the completion of the sale, the director now directly owns 659,111 shares of the company’s stock, valued at $6,716,341.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.45% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Valley National Bancorp during the first quarter worth approximately $29,000. JOYN Advisors Inc. increased its stake in shares of Valley National Bancorp by 1,410.8% during the fourth quarter. JOYN Advisors Inc. now owns 3,928 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 3,668 shares during the period. Baldwin Brothers Inc. MA bought a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $44,000. Bruderman Asset Management LLC bought a new position in shares of Valley National Bancorp during the fourth quarter worth approximately $52,000. Finally, NumerixS Investment Technologies Inc increased its stake in shares of Valley National Bancorp by 742.9% during the fourth quarter. NumerixS Investment Technologies Inc now owns 5,900 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 5,200 shares during the period. 55.94% of the stock is owned by institutional investors.

Valley National Bancorp Company Profile

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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