Valley National Bancorp (NASDAQ:VLY) Stock Rating Reaffirmed as “Outperform” by Royal Bank Of Canada

Valley National Bancorp (NASDAQ:VLY)‘s stock had its “outperform” rating reissued by Royal Bank Of Canada in a research note issued on Tuesday, Benzinga reports. They currently have a $17.00 price target on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 35.19% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen restated a “buy” rating on shares of Valley National Bancorp in a report on Wednesday, June 17th. Piper Sandler boosted their price objective on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “overweight” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. cut their price objective on shares of Valley National Bancorp from $17.50 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Barclays boosted their price objective on shares of Valley National Bancorp from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Finally, UBS Group set a $17.00 price objective on shares of Valley National Bancorp in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Valley National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $16.46.

Valley National Bancorp Price Performance

Shares of VLY stock traded down $0.21 during trading hours on Tuesday, hitting $12.58. 2,257,457 shares of the company’s stock were exchanged, compared to its average volume of 7,097,846. The stock’s 50-day moving average is $14.09 and its 200-day moving average is $13.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 10.68 and a beta of 1.03. Valley National Bancorp has a 52 week low of $9.64 and a 52 week high of $15.20.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, July 23rd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. The business had revenue of $560.74 million for the quarter, compared to the consensus estimate of $557.16 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue was up 13.3% on a year-over-year basis. As a group, research analysts forecast that Valley National Bancorp will post 1.27 EPS for the current year.

Institutional Trading of Valley National Bancorp

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Valley National Bancorp in the 2nd quarter valued at about $1,079,026,000. Azora Capital LP bought a new position in Valley National Bancorp in the 2nd quarter valued at about $150,121,000. Norges Bank bought a new position in Valley National Bancorp in the 4th quarter valued at about $71,554,000. Freestone Grove Partners LP purchased a new stake in Valley National Bancorp in the 2nd quarter valued at $88,872,000. Finally, Bank of New York Mellon Corp purchased a new stake in Valley National Bancorp in the 2nd quarter valued at $68,276,000. Institutional investors own 61.00% of the company’s stock.

Trending Headlines about Valley National Bancorp

Here are the key news stories impacting Valley National Bancorp this week:

• Positive Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating and maintained a $17 price target, implying substantial upside from recent trading levels. Royal Bank of Canada rating update
• Positive Sentiment: The Bluevine acquisition could expand Valley National’s digital small-business platform, diversify its customer base and improve access to lower-cost core deposits. Management discussed the transaction and its strategic rationale during a merger-and-acquisition call. Valley National Bancorp to acquire Bluevine
• Neutral Sentiment: Morgan Stanley lowered its price target from $17 to $16 and reaffirmed an “equal weight” rating. The revised target still indicates potential upside, but the cut suggests more cautious expectations around the acquisition or VLY’s near-term outlook.
• Negative Sentiment: Investors initially reacted negatively to the Bluevine deal, with reports noting that Valley National shares slid after the announcement. The roughly $340 million purchase introduces integration, execution and capital-allocation risks, while the benefits from digital growth and funding improvements may take time to materialize. Valley National to buy Bluevine

Valley National Bancorp Company Profile

Valley National Bancorp is the bank holding company for Valley National Bank, a full-service regional financial institution headquartered in Wayne, New Jersey. Founded in 1927, the company provides banking and financial services to consumers, businesses, commercial real estate clients and municipalities.

Valley National Bank offers deposit accounts, consumer and business lending, commercial and industrial loans, commercial real estate financing, residential mortgages, home equity products, and treasury management services.