GSA Capital Partners LLP Lowers Stake in Valley National Bancorp (NASDAQ:VLY)

GSA Capital Partners LLP lowered its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 64.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,953 shares of the company's stock after selling 105,820 shares during the period. GSA Capital Partners LLP's holdings in Valley National Bancorp were worth $534,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VLY. Covestor Ltd grew its holdings in shares of Valley National Bancorp by 14.1% during the 3rd quarter. Covestor Ltd now owns 21,480 shares of the company's stock worth $195,000 after purchasing an additional 2,647 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Valley National Bancorp by 36.7% during the 3rd quarter. Atria Investments Inc now owns 40,198 shares of the company's stock worth $364,000 after purchasing an additional 10,785 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Valley National Bancorp during the 3rd quarter worth $25,000. Greenwich Wealth Management LLC bought a new stake in shares of Valley National Bancorp during the 3rd quarter worth $95,000. Finally, New York State Teachers Retirement System lifted its position in shares of Valley National Bancorp by 1.0% during the 3rd quarter. New York State Teachers Retirement System now owns 281,539 shares of the company's stock worth $2,551,000 after buying an additional 2,791 shares during the last quarter. Institutional investors own 61.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VLY shares. Morgan Stanley increased their target price on Valley National Bancorp from $9.50 to $10.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Piper Sandler raised their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Barclays raised Valley National Bancorp from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $9.00 to $10.00 in a research note on Thursday, October 31st. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $10.50 to $11.00 in a report on Monday, November 11th. One investment 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. According to data from MarketBeat, Valley National Bancorp currently has a consensus rating of "Hold" and an average price target of $9.88.

Valley National Bancorp Stock Performance

Shares of VLY traded down $0.04 during mid-day trading on Wednesday, hitting $10.15. The stock had a trading volume of 5,939,834 shares, compared to its average volume of 6,162,711. The firm has a market cap of $5.17 billion, a P/E ratio of 16.44 and a beta of 1.07. The business has a fifty day moving average price of $9.28 and a 200-day moving average price of $8.18. 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 52 week low of $6.47 and a 52 week high of $11.22.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The business had revenue of $921.22 million for 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 prior year, the firm posted $0.26 EPS. On average, equities research analysts expect that Valley National Bancorp will post 0.66 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.11 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.33%. Valley National Bancorp's dividend payout ratio is currently 70.97%.

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.