Key Points
- Director Carlos Vazquez bought 2,500 shares on Feb. 17 at an average price of $13.45, a $33,625 purchase that increased his stake to 4,252 shares (a 142.69% increase).
- Valley National beat quarterly estimates, reporting $0.31 EPS vs. $0.29 expected and revenue up 14.1% year-over-year, while analysts have raised targets and the consensus rating is a "Moderate Buy" with a $14.20 price target.
- The stock has a market cap of about $7.4 billion and a P/E of 13.14, is trading near its 1-year high (~$13.27 open, $13.87 high), and institutions own roughly 61% of the shares.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) Director Carlos Vazquez acquired 2,500 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $13.45 per share, for a total transaction of $33,625.00. Following the transaction, the director directly owned 4,252 shares of the company's stock, valued at approximately $57,189.40. This trade represents a 142.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Valley National Bancorp Stock Performance
Valley National Bancorp stock opened at $13.27 on Thursday. The firm has a 50-day moving average of $12.35 and a 200-day moving average of $11.22. The firm has a market cap of $7.40 billion, a P/E ratio of 13.14 and a beta of 1.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $13.87.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. Valley National Bancorp had a return on equity of 7.92% and a net margin of 17.11%.The firm had revenue of $541.25 million for the quarter, compared to analyst estimates of $524.31 million. During the same period last year, the company earned $0.13 EPS. The business's quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently commented on VLY. Royal Bank Of Canada raised their target price on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Valley National Bancorp from $14.00 to $14.50 and gave the stock an "overweight" rating in a report on Tuesday, December 16th. Keefe, Bruyette & Woods lifted their price objective on Valley National Bancorp from $12.50 to $13.00 and gave the company a "market perform" rating in a research report on Friday, January 30th. Weiss Ratings raised Valley National Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 6th. Finally, National Bank Financial set a $16.00 price target on Valley National Bancorp in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $14.20.
Get Our Latest Report on Valley National Bancorp
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC increased its holdings in Valley National Bancorp by 99.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 258,002 shares of the company's stock valued at $2,735,000 after buying an additional 128,563 shares during the last quarter. Norges Bank bought a new stake in shares of Valley National Bancorp during the 2nd quarter valued at $31,276,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Valley National Bancorp in the 2nd quarter worth $792,000. Y Intercept Hong Kong Ltd increased its stake in shares of Valley National Bancorp by 35.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 487,330 shares of the company's stock worth $5,166,000 after purchasing an additional 128,865 shares in the last quarter. Finally, LSV Asset Management raised its holdings in Valley National Bancorp by 6.3% in the 3rd quarter. LSV Asset Management now owns 1,522,310 shares of the company's stock worth $16,136,000 after purchasing an additional 90,500 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.
Valley National Bancorp Company Profile
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Get Free Report)
Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.
Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.
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