Nisa Investment Advisors LLC Cuts Position in Valley National Bancorp (NASDAQ:VLY)

Nisa Investment Advisors LLC lessened its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 44.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,966 shares of the company's stock after selling 70,054 shares during the period. Nisa Investment Advisors LLC's holdings in Valley National Bancorp were worth $791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VLY. Blue Trust Inc. lifted its position in shares of Valley National Bancorp by 48.2% in the third 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. EntryPoint Capital LLC purchased a new position in shares of Valley National Bancorp in the first quarter valued at $43,000. Innealta Capital LLC bought a new stake in Valley National Bancorp in the second quarter worth $38,000. Hexagon Capital Partners LLC raised its stake in 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. Finally, GAMMA Investing LLC lifted its position in Valley National Bancorp by 46.4% during the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company's stock valued at $62,000 after purchasing an additional 2,151 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Performance

Shares of VLY stock traded up $0.10 on Tuesday, hitting $9.46. The company had a trading volume of 1,880,141 shares, compared to its average volume of 5,802,748. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22. 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 firm has a market cap of $4.82 billion, a P/E ratio of 15.10 and a beta of 1.07. The company has a 50-day moving average price of $8.90 and a 200-day moving average price of $7.99.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $921.22 million for 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 prior year, the firm posted $0.26 EPS. As a group, equities research analysts predict that Valley National Bancorp will post 0.67 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp's dividend payout ratio (DPR) is presently 70.97%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VLY shares. Royal Bank of Canada upped their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company 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 upped their price target for the stock from $9.00 to $10.00 in a report on Thursday, October 31st. Piper Sandler increased 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. Wedbush reissued a "neutral" rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research note on Friday, October 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.75.

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.