Entropy Technologies LP Sells 125,500 Shares of Valley National Bancorp (NASDAQ:VLY)

Entropy Technologies LP decreased its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 66.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 62,812 shares of the company's stock after selling 125,500 shares during the quarter. Entropy Technologies LP's holdings in Valley National Bancorp were worth $569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VLY. Harbor Capital Advisors Inc. bought a new position in Valley National Bancorp in the 3rd quarter worth about $25,000. Innealta Capital LLC bought a new position in Valley National Bancorp in the 2nd quarter worth about $38,000. EntryPoint Capital LLC purchased a new stake in shares of Valley National Bancorp in the 1st quarter valued at about $43,000. Blue Trust Inc. raised its holdings in shares of Valley National Bancorp by 48.2% in the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock valued at $44,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company's stock valued at $56,000 after acquiring an additional 5,001 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VLY. Morgan Stanley raised their price target on Valley National Bancorp from $9.50 to $10.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. Barclays raised Valley National Bancorp from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $9.00 to $10.00 in a report on Thursday, October 31st. Piper Sandler raised their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Royal Bank of Canada raised their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, StockNews.com raised Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $9.88.

Valley National Bancorp Stock Up 0.5 %

NASDAQ:VLY traded up $0.05 during trading hours on Friday, reaching $10.19. 5,795,940 shares of the company traded hands, compared to its average volume of 6,166,685. The business's 50-day moving average price is $9.15 and its two-hundred day moving average price is $8.11. The stock has a market capitalization of $5.19 billion, a P/E ratio of 16.11 and a beta of 1.07. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50.

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. The business had revenue of $921.22 million during the quarter, compared to analysts' expectations of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same quarter in the previous year, the business earned $0.26 earnings per share. Analysts predict that Valley National Bancorp will post 0.66 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, September 13th. Valley National Bancorp's dividend payout ratio is currently 70.97%.

Valley National Bancorp Company 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.