Positive News Coverage Very Likely to Impact Valley National Bancorp (VLY) Share Price

News headlines about Valley National Bancorp (NYSE:VLY) have trended positive this week, AlphaOne Sentiment reports. AlphaOne, a subsidiary of Accern, identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Valley National Bancorp earned a daily sentiment score of 0.46 on AlphaOne’s scale. AlphaOne also assigned media stories about the financial services provider an impact score of 81 out of 100, indicating that recent press coverage is very likely to have an impact on the stock’s share price in the near term.

These are some of the media stories that may have impacted AlphaOne’s scoring:

Valley National Bancorp (NYSE:VLY) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $189.80 million during the quarter, compared to the consensus estimate of $187.34 million. Valley National Bancorp had a net margin of 19.32% and a return on equity of 7.78%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share.

VLY has been the subject of several recent analyst reports. Zacks Investment Research raised Valley National Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Friday, April 7th. Stephens initiated coverage on Valley National Bancorp in a research report on Wednesday, April 5th. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $13.00 target price on shares of Valley National Bancorp in a research report on Monday, April 3rd. Finally, Sandler O’Neill cut Valley National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Five analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $11.83.

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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.

12 Month Chart for NYSE:VLY

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