Valley National Bancorp (NASDAQ:VLY) had its price target raised to $10.00 by analysts at Morgan Stanley

Valley National Bancorp (NASDAQ:VLY – Get a Free Report) had its price target lifted by equities researchers at Morgan Stanley from $9.50 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 10.38% from the stock’s previous close.

A number of other equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada lifted their price objective on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wedbush boosted their price target on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Barclays cut their price target on shares of Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Valley National Bancorp presently has a consensus rating of “Hold” and an average target price of $8.63, according to MarketBeat.com.

Read the latest stock report on VLY

Valley National Bancorp Trading Up 3.3%

Shares of NASDAQ:VLY traded up $0.29 during trading on Monday, reaching $9.06. The stock had a trading volume of 1,355,185 shares, compared to its average volume of 5,940,816. Valley National Bancorp has a 52-week low of $6.47 and a 52-week high of $11.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99, and a current ratio of 0.99. The company’s fifty day moving average is $8.36 and its 200 day moving average is $7.70. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 10.66 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY – Get Free Report ) last posted its earnings results on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business had revenue of $884.68 million for the quarter, compared to analyst estimates of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period in the previous year, the business earned $0.28 EPS. As a group, equities analysts forecast that Valley National Bancorp will post 0.7 EPS for the current fiscal year.

Institutional inputs and outputs

A number of institutional investors have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Valley National Bancorp in the 4th quarter worth about $754,000. Rafferty Asset Management LLC boosted its stake in Valley National Bancorp by 50.2% in the 4th quarter. Rafferty Asset Management LLC now owns 811,248 shares of the company’s stock valued at $8,810,000 after purchasing an additional 271,264 shares during the period. actions during the period. 1832 Asset Management LP bought a new position in Valley National Bancorp in the 4th quarter valued at approximately $350,000. Gibson Capital LLC acquired a new position in Valley National Bancorp in the 4th quarter valued at about $365,000. Finally, Goldman Sachs Group Inc. raised its holdings in Valley National Bancorp by 6.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,814,048 shares of the company’s stock valued at $30,561,000 after acquiring an additional 160,854 shares during the period. Institutional investors own 61.00% of the company’s shares.

Valley National Bancorp Company Profile

(Get a free report)

Valley National Bancorp operates as the holding company for Valley National Bank, which provides various commercial financial services, private banking, retail, insurance and wealth management products. It operates through Consumer Banking, Commercial Banking and Treasury and Corporate segments.

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