LMR Partners LLP acquired a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 159,770 shares of the company's stock, valued at approximately $1,448,000.
Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Valley National Bancorp in the 3rd quarter worth approximately $25,000. Blue Trust Inc. increased its holdings in 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 during the last quarter. EntryPoint Capital LLC purchased a new stake in Valley National Bancorp in the 1st quarter worth $43,000. Innealta Capital LLC bought a new position in shares of Valley National Bancorp during the 2nd quarter valued at about $38,000. Finally, Hexagon Capital Partners LLC grew its position in shares of Valley National Bancorp by 416.8% during the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company's stock valued at $56,000 after purchasing an additional 5,001 shares in the last quarter. Institutional investors own 61.00% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on VLY shares. Piper Sandler increased their price target on Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Wedbush reissued a "neutral" rating and issued a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. Royal Bank of Canada boosted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Barclays upgraded shares of Valley National Bancorp from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $9.00 to $10.00 in a research report on Thursday, October 31st. Finally, StockNews.com downgraded shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $9.88.
View Our Latest Report on Valley National Bancorp
Valley National Bancorp Trading Down 0.4 %
VLY traded down $0.04 on Wednesday, reaching $10.15. 5,939,834 shares of the company traded hands, compared to its average volume of 6,162,711. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The company has a market cap of $5.17 billion, a P/E ratio of 16.44 and a beta of 1.07. The firm has a fifty day simple moving average of $9.28 and a two-hundred day simple moving average of $8.18. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The firm had revenue of $921.22 million during the quarter, compared to analyst estimates 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. As a group, equities research analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current year.
Valley National Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 4.33%. Valley National Bancorp's dividend payout ratio is currently 70.97%.
Valley National Bancorp Company 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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