Valley National Bancorp: RBC Capital maintains Outperform, PT raised to $13.

Valley National Bancorp: RBC Capital maintains Outperform, PT raised to $13.

Valley National Advisers Inc. has significantly increased its holdings in Philip Morris International (PM) by 197.2%, acquiring an additional 13,444 shares. This move brings Valley National Advisers' total shares of PM to 20,261, valued at approximately $3.69 million Valley National Advisers Inc. Acquires 13,444 Shares of Philip Morris International Inc. $PM^[1].

The increase in holdings comes amid mixed analyst ratings for PM. While 11 analysts maintain a 'buy' rating, one analyst has issued a 'hold' rating, with a consensus price target of $195.44 Valley National Advisers Inc. Acquires 13,444 Shares of Philip Morris International Inc. $PM^[1]. Recently, several other institutional investors have also adjusted their stakes in PM. PFS Partners LLC raised its stake by 24.8%, Perigon Wealth Management LLC by 0.4%, TBH Global Asset Management LLC by 0.9%, Uncommon Cents Investing LLC by 1.1%, and NFP Retirement Inc. by 2.5% Valley National Advisers Inc. Acquires 13,444 Shares of Philip Morris International Inc. $PM^[1].

Analysts have also provided varied opinions on PM's stock. UBS Group lowered its price target to $166.00 and set a 'neutral' rating, while Weiss Ratings reaffirmed a 'buy' rating. Barclays reduced its price objective to $220.00 and set an 'overweight' rating. Citigroup reaffirmed a 'buy' rating, and Wall Street Zen downgraded PM from 'buy' to 'hold' Valley National Advisers Inc. Acquires 13,444 Shares of Philip Morris International Inc. $PM^[1].

PM's recent earnings report showed earnings per share (EPS) of $1.91, beating the consensus estimate of $1.86. The company also disclosed a quarterly dividend increase from $1.35 to $1.47 per share, with an annualized dividend yield of 3.8% Valley National Advisers Inc. Acquires 13,444 Shares of Philip Morris International Inc. $PM^[1].