Edgestream Partners L.P. Has $4.18 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

Edgestream Partners L.P. grew its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 153.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 461,232 shares of the company's stock after acquiring an additional 279,165 shares during the quarter. Edgestream Partners L.P. owned 0.09% of Valley National Bancorp worth $4,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Valley National Bancorp by 193.2% in the 2nd quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company's stock valued at $69,233,000 after purchasing an additional 6,703,552 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Valley National Bancorp by 1,501.7% during the third quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company's stock worth $51,431,000 after buying an additional 5,322,278 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Valley National Bancorp by 995.0% in the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company's stock valued at $19,374,000 after acquiring an additional 2,522,204 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Valley National Bancorp by 416.7% during the 3rd quarter. Verition Fund Management LLC now owns 852,884 shares of the company's stock valued at $7,727,000 after acquiring an additional 687,813 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Valley National Bancorp by 461.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 567,303 shares of the company's stock valued at $3,960,000 after acquiring an additional 466,303 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Trading Down 0.4 %

NASDAQ VLY traded down $0.04 during mid-day trading on Friday, reaching $10.64. 2,962,444 shares of the stock were exchanged, compared to its average volume of 9,462,829. The stock has a market cap of $5.42 billion, a P/E ratio of 17.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22. The stock has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $8.34.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The company had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. During the same period in the previous year, the business earned $0.26 EPS. On average, analysts anticipate that Valley National Bancorp will post 0.66 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. Valley National Bancorp's payout ratio is 70.97%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VLY shares. Wedbush reiterated a "neutral" rating and issued a $10.00 target price on shares of Valley National Bancorp in a research report on Friday, October 25th. StockNews.com lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Piper Sandler boosted their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and raised their price target for the company from $10.50 to $11.00 in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their price target on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Valley National Bancorp currently has an average rating of "Hold" and an average target price of $9.88.

Valley National Bancorp Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.