Brokerages Set Valley National Bancorp (VLY) Target Price at $13.69

Shares of Valley National Bancorp (NYSE:VLY) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $13.69.

Separately, Zacks Investment Research raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday.

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



Large investors have recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in Valley National Bancorp in the 1st quarter valued at approximately $29,000. JOYN Advisors Inc. lifted its stake in Valley National Bancorp by 1,410.8% in the 4th quarter. JOYN Advisors Inc. now owns 3,928 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 3,668 shares during the last quarter. Baldwin Brothers Inc. MA bought a new position in Valley National Bancorp in the 4th quarter valued at approximately $44,000. Bruderman Asset Management LLC acquired a new position in Valley National Bancorp in the 4th quarter valued at approximately $52,000. Finally, NumerixS Investment Technologies Inc increased its position in Valley National Bancorp by 742.9% in the 4th quarter. NumerixS Investment Technologies Inc now owns 5,900 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 5,200 shares during the period. 55.94% of the stock is owned by institutional investors and hedge funds.

Shares of Valley National Bancorp stock traded down $0.05 on Friday, reaching $10.24. 937,366 shares of the stock were exchanged, compared to its average volume of 2,026,121. Valley National Bancorp has a one year low of $8.42 and a one year 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $326.32 million for the quarter, compared to the consensus estimate of $253.23 million. During the same period in the previous year, the business posted $0.18 earnings per share.

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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