Valley National Bancorp: JPM Maintains Overweight, PT Raised to $13.

Valley National Bancorp: JPM Maintains Overweight, PT Raised to $13.

Valley National Bancorp (NASDAQ:VLY) has seen its target price increased by equities researchers at JPMorgan Chase & Co., who raised their rating from $11.00 to $13.00. This increase indicates a potential upside of 23.16% from the stock's previous close. JPMorgan Chase & Co. currently holds an "overweight" rating on the stock Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $13.00^[1].

Several other research firms have also weighed in on Valley National Bancorp. Truist Financial, for instance, raised their price target to $13.00 and assigned a "buy" rating Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $13.00^[1]. TD Cowen initiated coverage with a "buy" rating and a $14.00 target price, while Jefferies Financial Group upgraded the stock from "hold" to "buy" with a target price of $14.00 Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $13.00^[1]. Royal Bank Of Canada raised their target to $11.00 with an "outperform" rating, and Hovde Group issued an "outperform" rating with a $12.50 target price Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $13.00^[1].

Institutional investors have also shown interest in Valley National Bancorp. State of Michigan Retirement System, Signaturefd LLC, Louisiana State Employees Retirement System, Forum Financial Management LP, and State of Alaska Department of Revenue have all increased their stakes in the company Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $13.00^[1].

Valley National Bancorp operates as the holding company for Valley National Bank, providing a range of financial services including commercial, private banking, retail, insurance, and wealth management products. The company's earnings for the quarter ended July 24th were $0.23 per share, beating the consensus estimate of $0.22. The company's revenue for the quarter was $495.01 million, up 9.3% year-over-year Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $13.00^[1].

Despite the positive analyst ratings, investors should consider the company's financial metrics and the broader market conditions before making investment decisions. Valley National Bancorp's debt-to-equity ratio is 0.41, with a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $5.91 billion, a P/E ratio of 13.52, and a beta of 1.13 Valley National Bancorp (NASDAQ:VLY) Price Target Raised to $13.00^[1].