Valley National Bancorp ( NASDAQ:VLY ) receives a “Neutral” rating from Wedbush

Wedbush maintained its neutral rating on the company’s shares Valley National Bancorp (NASDAQ:VLY – Free Report) in a report published on Wednesday, Benzinga reports. Currently, the price target for Wedbush stock is $8.00.

Several other equity research analysts have also recently commented on the company. TheStreet downgraded Valley National Bancorp from a B- to a C+ in a report published on Tuesday, February 27. JPMorgan Chase & Co. lowered their target price on shares of Valley National Bancorp from $12.00 to $9.00 and set a neutral rating on the stock in a report on Thursday, April 4. Royal Bank of Canada lowered their target price on Valley National Bancorp from $12.00 to $10.00 and set an outperform rating on the stock in a report on Tuesday, April 9th. Morgan Stanley raised their target price on Valley National Bancorp from $8.50 to $9.00 and gave the company an underweight rating in a report on Wednesday, February 7th. Finally, on Friday, March 8, Barclays began its relationship with Valley National Bancorp. They set an underweight rating and a $8.00 price target for the stock. Two equity analysts rated the company with a sell rating, five of them issued a hold rating, and three gave the company a buy rating. According to MarketBeat data, the company currently has a consensus rating of Hold and an average price target of $9.33.

Get our latest stock analysis on VLY

Valley National Bancorp Stock Performance

On Wednesday, NASDAQ VLY opened at $7.66. The company has a market capitalization of $3.90 billion, a P/E ratio of 9.01 and a beta of 1.10. Valley National Bancorp has a 1-year low of $6.97 and a 1-year high of $11.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day simple moving average is $7.64 and its 200-day simple moving average is $8.77.

Valley National Bancorp (NASDAQ:VLY – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $890.07 million for the quarter, compared to analyst estimates of $447.38 million. Valley National Bancorp had a net margin of 12.88% and a return on equity of 7.74%. During the same period last year, the company earned $0.30 per share. Equities analysts predict that Valley National Bancorp will post 0.87 EPS for the current year.

Confidential Trading at Valley National Bancorp

In other news, VP Joseph Chillura sold 49,715 shares of Valley National Bancorp stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $8.18, for a total value of $406,668.70. Following the completion of the transaction, the executive vice president now owns 545,249 shares of the company’s stock, valued at approximately $4,460,136.82. The sale was disclosed in a legal document filed with the Securities and Exchange Commission, which is available at this hyperlink. Insiders own 1.88% of the company’s shares.

Institutional inflows and outflows

Several hedge funds have recently made changes to their positions at the company. GAMMA Investing LLC acquired a new position in Valley National Bancorp during the fourth quarter worth approximately $35,000. Wolverine Asset Management LLC acquired a new position in Valley National Bancorp during the fourth quarter worth approximately $40,000. EntryPoint Capital LLC acquired a new position in Valley National Bancorp during the first quarter worth $43,000. Simplicity Wealth LLC acquired a new position in Valley National Bancorp during the first quarter worth $92,000. Finally, Jump Financial LLC acquired a new position in Valley National Bancorp during the third quarter worth $93,000. Institutional investors and hedge funds hold 61.00% of the company’s shares.

About Valley National Bancorp

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Valley National Bancorp operates as the holding company for Valley National Bank, which provides a variety of financial services products in the areas of commercial banking, private banking, retail banking, insurance and wealth management. It operates through retail banking, commercial banking and other treasury and corporate segments.

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