Valley National Bancorp (VLY) Cut to Strong Sell at BidaskClub

Elias Hubbard
August 2, 2017

They now have a $11.50 price target on the financial services provider's stock, up from their prior price target of $11.00.

VLY has been the subject of several other research reports. Finally, Stephens started coverage on shares of Valley National Bancorp in a report on Wednesday, April 5th. They set an equal weight rating on the stock. Wedbush reiterated a "neutral" rating and set a $12.00 price objective on shares of Valley National Bancorp in a research note on Tuesday, June 27th.

Valley National Bancorp (NYSE:VLY) pays an annual dividend of Community Ranking: with a yield of 3.78% and an average dividend growth of -12.20% based on a 3 Year Average. Two brokerage firms recommended the company shares with a sell recommendation, five have issued a hold recommendation and around three have issued a buy recommendation to the share. The stock now has a consensus rating of Hold and a consensus price target of $12.08. Zacks Lowered Valley National Bancorp from a "hold" recommendation to a "sell" recommendation in a study on Saturday, Jul 8th. 821,788 shares of the company's stock were exchanged. The company has market cap of $2.98 billion. The stock has a 50-day moving average price of $11.81 and a 200 day moving average price of $11.87. Valley National Bancorp has a 52 week low of $8.90 and a 52 week high of $12.82.

Valley National Bancorp (NYSE:VLY) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. Valley National Bancorp had a net margin of 20.73% and a return on equity of 8.39%. Revenue for the quarter also killed consensus, coming in at $193.65 Million, compared to the consensus of 190.44 Million. While in the same Quarter Previous year, the Actual EPS was $0.16. On average, equities research analysts predict that Valley National Bancorp will post $0.71 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Millennium Management Limited Liability has 0.15% invested in INC Research Holdings Inc (NASDAQ:INCR) for 1.37M shares. The ex-dividend date of this dividend was Tuesday, June 13th.

07/06/2017 - Valley National Bancorp had its " rating reiterated by analysts at Morgan Stanley.

The share price of the company (NYSE:VLY) was up +2.06% during the last trading session, with a high of 11.93 and the volume of Valley National Bancorp shares traded was 2722340. Dalton Greiner Hartman Maher & Co. now owns 1,239,362 shares of the bank's stock worth $21,503,000 after buying an additional 37,605 shares in the last quarter. Quantitative Systematic Strategies LLC raised its stake in Valley National Bancorp by 877.8% in the first quarter. State of Alaska Department of Revenue now owns 14,980 shares of the bank's stock worth $259,000 after buying an additional 370 shares during the period. Guggenheim Capital LLC increased its stake in shares of Old National Bancorp by 13.5% in the fourth quarter. LS Investment Advisors LLC now owns 17,867 shares of the financial services provider's stock valued at $211,000 after buying an additional 363 shares during the period.

How Active Are Valley National Bancorp (NYSE:VLY) Shares? Boston Private Wealth LLC now owns 84,231 shares of the bank's stock worth $1,461,000 after buying an additional 284 shares during the period. Swiss National Bank boosted its stake in Old National Bancorp by 1.7% in the first quarter. Principal Financial Group Inc. now owns 1,049,783 shares of the bank's stock worth $18,214,000 after buying an additional 30,009 shares during the period.

According to Zacks, analysts expect that Old National Bancorp will report full year earnings of $1.06 per share for the current year, with EPS estimates ranging from $1.04 to $1.09. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company's divisions include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.

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