Valley National Bank (NYSE:VLY) – Equities researchers at Wedbush raised their Q2 2018 EPS estimates for shares of Valley National Bank in a research note issued to investors on Thursday, April 26th, Zacks Investment Research reports. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will earn $0.23 per share for the quarter, up from their prior forecast of $0.21. Wedbush also issued estimates for Valley National Bank’s Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.93 EPS, Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.27 EPS and FY2019 earnings at $1.05 EPS.
Several other equities research analysts have also issued reports on VLY. Piper Jaffray reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Valley National Bank in a research note on Monday, January 29th. Hovde Group reissued a “buy” rating and set a $14.00 price target on shares of Valley National Bank in a research note on Wednesday, January 31st. Morgan Stanley raised their price target on Valley National Bank from $13.00 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. ValuEngine raised Valley National Bank from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research lowered Valley National Bank from a “buy” rating to a “hold” rating in a research note on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $13.86.
Shares of NYSE:VLY traded down $0.09 during trading on Monday, hitting $12.76. The company had a trading volume of 4,636,300 shares, compared to its average volume of 2,519,071. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 18.49 and a beta of 0.92. Valley National Bank has a one year low of $12.73 and a one year high of $12.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.97 and a quick ratio of 0.97.
Valley National Bank (NYSE:VLY) last posted its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The company had revenue of $239.85 million during the quarter, compared to the consensus estimate of $238.74 million. Valley National Bank had a net margin of 15.41% and a return on equity of 8.20%. Valley National Bank’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share.
In other Valley National Bank news, Director Jennifer W. Steans sold 175,300 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $12.76, for a total transaction of $2,236,828.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.45% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VLY. Stifel Financial Corp increased its holdings in Valley National Bank by 44.9% during the 3rd quarter. Stifel Financial Corp now owns 27,875 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 8,638 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Valley National Bank during the 3rd quarter worth $253,000. California Public Employees Retirement System increased its holdings in Valley National Bank by 1.3% during the 3rd quarter. California Public Employees Retirement System now owns 628,418 shares of the financial services provider’s stock worth $7,572,000 after purchasing an additional 7,879 shares during the period. GSA Capital Partners LLP purchased a new position in Valley National Bank during the 3rd quarter worth $448,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Valley National Bank by 13.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 144,771 shares of the financial services provider’s stock valued at $1,624,000 after acquiring an additional 17,200 shares during the period. Institutional investors own 51.62% of the company’s stock.
Valley National Bank Company Profile
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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