Valley National Bancorp (VLY) Given Average Rating of "Hold" by Brokerages


Investors of record on Thursday, June 15th were given a $0.11 dividend. The shares price has directed 28.81% toward a higher level throughout a year ago and swapped 1.74% toward a strong spot during past one month.

Shares of Valley National Bancorp (NYSE:VLY) have received a consensus recommendation of "Hold" from the nine analysts that are now covering the stock, Marketbeat Ratings reports. On a per-share basis, the Springfield, Missouri-based company said it had net income of $3.10. Tiaa Cref Investment Mngmt Lc stated it has 0.01% of its portfolio in Old National Bancorp (NASDAQ:ONB).

Old National Bancorp (NASDAQ:ONB) has risen 28.89% since July 28, 2016 and is uptrending. As of the latest earnings report the EPS was $0.66 and is estimated to be $0.71 for the current year with 263,842,000 shares now outstanding. The firm had revenue of $17.88 million during the quarter, compared to analyst estimates of $15.85 million.

Valley National Bancorp (NYSE:VLY) had an increase of 6.92% in short interest. In contrast to the year ago quarter EPS was at 0.19.

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A number of brokerages have commented on ONB. Stephens started coverage on shares of Valley National Bancorp in a research report on Wednesday, April 5th. Finally, BidaskClub downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a "hold" rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Sunday, June 11th. Royal Bank Of Canada reissued a "hold" rating and issued a $19.00 price objective on shares of Old National Bancorp in a research report on Tuesday, April 4th. (NYSE:CAT), 10 have Buy rating, 4 Sell and 12 Hold. Old National Bancorp now has $2.18B valuation.

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Valley National Bancorp (NYSE:VLY) retreated its position after shares change of 1.51% on Thursday and it traded at $11.78. The company's stock had a trading volume of 839,139 shares.

Let's talk about the gap between analyst price targets for the next 12 months and Valley National Bancorp (VLY)'s current share price. The company maintains price to book ratio of 1.43 industry average at 2.81. The firm has a 50-day moving average of $17.04 and a 200-day moving average of $17.23.

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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Metropolitan Life Insurance NY has an ownership of 37,059 stocks of the bank's shares valued at $189,000 after scooping up an extra 3,261 shares through out the previous quarter, Russell Investments Group increased its position in stocks of The Bancorp by 0.8% in the Q1. This represents a $0.44 annualized dividend and a dividend yield of 3.78%. For purposes of broker trading, the ex-date of the cash dividend is August 30, 2017. Old National Bancorp's dividend payout ratio (DPR) is now 49.52%. The stock was sold at an average price of $17.03, for a total value of $124,863.96. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

On 5/26/2017 John R Kamin, Insider, sold 1,000 with an average share price of $16.18 per share and the total transaction amounting to $16,180.00. The disclosure for this purchase can be found here. The firm's institutional ownership remained 93.60% while insider ownership included 0.60%.

Hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new stake in shares of Valley National Bancorp during the first quarter valued at approximately $158,000. Teachers Advisors LLC raised its stake in shares of Valley National Bancorp by 2.3% in the fourth quarter. Guggenheim Capital LLC now owns 100,974 shares of the bank's stock valued at $1,833,000 after buying an additional 11,989 shares during the period. Alliancebernstein L.P. now owns 522,944 shares of the financial services provider's stock worth $6,171,000 after buying an additional 132,790 shares during the period. Oxford Asset Management bought a new stake in Central Valley Community Bancorp during the first quarter worth $298,000. Neuburgh Advisers LLC now owns 8,206 shares of the bank's stock valued at $142,000 after buying an additional 1,694 shares during the period.

Valley National Bancorp (NYSE:VLY) now has a trailing P/E of 17.59 while its forward P/E according to Thomson Reuters is 14.7. 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.

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