Valley National Bancorp (VLY) Rating Reiterated by Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their buy rating on shares of Valley National Bancorp (NYSE:VLY) in a research note published on Monday morning. Piper Jaffray Companies currently has a $14.00 price objective on the financial services provider’s stock.
VLY has been the topic of a number of other research reports. Zacks Investment Research raised shares of Valley National Bancorp from a sell rating to a hold rating in a research note on Wednesday, December 27th. Royal Bank of Canada began coverage on shares of Valley National Bancorp in a research note on Thursday, December 21st. They issued an outperform rating and a $14.00 price target on the stock. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $15.00 price target on shares of Valley National Bancorp in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $13.64.
Shares of Valley National Bancorp (NYSE VLY) opened at $12.57 on Monday. The company has a market cap of $3,320.00, a P/E ratio of 21.67 and a beta of 0.89. Valley National Bancorp has a one year low of $10.61 and a one year high of $12.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.98 and a current ratio of 0.98.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Friday, December 22nd were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.44 dividend on an annualized basis and a yield of 3.50%. Valley National Bancorp’s payout ratio is currently 75.86%.
In other news, Director Peter J. Baum acquired 3,433 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average price of $12.70 per share, for a total transaction of $43,599.10. Following the acquisition, the director now owns 41,086 shares of the company’s stock, valued at approximately $521,792.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.07% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in shares of Valley National Bancorp by 185.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,230,525 shares of the financial services provider’s stock worth $38,928,000 after acquiring an additional 2,099,452 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Valley National Bancorp during the 3rd quarter worth $9,222,000. Northern Trust Corp raised its holdings in shares of Valley National Bancorp by 15.0% during the 2nd quarter. Northern Trust Corp now owns 5,870,281 shares of the financial services provider’s stock worth $69,327,000 after acquiring an additional 764,098 shares during the period. FMR LLC raised its holdings in shares of Valley National Bancorp by 40.6% during the 2nd quarter. FMR LLC now owns 2,122,100 shares of the financial services provider’s stock worth $25,062,000 after acquiring an additional 612,334 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Valley National Bancorp by 57.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,552,764 shares of the financial services provider’s stock worth $18,711,000 after acquiring an additional 566,827 shares during the period. Institutional investors own 63.82% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://theolympiareport.com/2018/02/01/valley-national-bancorp-vly-rating-reiterated-by-piper-jaffray-companies.html.
About Valley National Bancorp
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
Receive News & Ratings for Valley National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valley National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.