Holocene Advisors LP bought a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 482,820 shares of the company's stock, valued at approximately $4,374,000. Holocene Advisors LP owned about 0.09% of Valley National Bancorp at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLY. Price T Rowe Associates Inc. MD raised its stake in shares of Valley National Bancorp by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 228,399 shares of the company's stock valued at $1,819,000 after buying an additional 15,793 shares during the last quarter. Comerica Bank increased its stake in shares of Valley National Bancorp by 6.2% in the 1st quarter. Comerica Bank now owns 295,977 shares of the company's stock valued at $2,356,000 after purchasing an additional 17,282 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Valley National Bancorp in the 1st quarter valued at about $229,000. Linden Thomas Advisory Services LLC increased its stake in shares of Valley National Bancorp by 7.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 58,158 shares of the company's stock valued at $406,000 after purchasing an additional 4,069 shares in the last quarter. Finally, Ignite Planners LLC increased its stake in shares of Valley National Bancorp by 17.6% in the 2nd quarter. Ignite Planners LLC now owns 62,937 shares of the company's stock valued at $414,000 after purchasing an additional 9,424 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on VLY. Wedbush reiterated a "neutral" rating and issued a $10.00 price objective on shares of Valley National Bancorp in a report on Friday, October 25th. JPMorgan Chase & Co. upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 11th. StockNews.com cut Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Piper Sandler lifted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.00.
View Our Latest Stock Analysis on Valley National Bancorp
Valley National Bancorp Stock Performance
NASDAQ:VLY traded down $0.06 during mid-day trading on Thursday, reaching $10.42. The stock had a trading volume of 3,645,814 shares, compared to its average volume of 6,131,892. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 16.90 and a beta of 1.09. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22. The business has a 50 day simple moving average of $9.67 and a 200 day simple moving average of $8.39.
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 the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The firm had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. During the same period in the previous year, the firm posted $0.26 EPS. On average, analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.
Valley National Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 4.22%. Valley National Bancorp's dividend payout ratio (DPR) is presently 70.97%.
Valley National Bancorp Profile
(
Free Report)
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.
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