Pathstone Holdings LLC Acquires 71,553 Shares of Valley National Bancorp (NASDAQ:VLY)

Pathstone Holdings LLC increased its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 44.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 231,591 shares of the company's stock after purchasing an additional 71,553 shares during the period. Pathstone Holdings LLC's holdings in Valley National Bancorp were worth $2,098,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co increased its position in shares of Valley National Bancorp by 11.1% during the 2nd quarter. Diversified Trust Co now owns 14,317 shares of the company's stock worth $100,000 after purchasing an additional 1,435 shares during the last quarter. Blue Trust Inc. grew its position in Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock worth $44,000 after acquiring an additional 1,564 shares during the last quarter. GAMMA Investing LLC raised its position in Valley National Bancorp by 46.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company's stock worth $62,000 after purchasing an additional 2,151 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Valley National Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company's stock valued at $276,000 after purchasing an additional 2,154 shares during the period. Finally, Ignite Planners LLC increased its position in Valley National Bancorp by 3.4% in the 3rd quarter. Ignite Planners LLC now owns 65,107 shares of the company's stock valued at $590,000 after buying an additional 2,170 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Morgan Stanley increased their price target on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Piper Sandler raised their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a "neutral" rating in a research report 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. Finally, Royal Bank of Canada raised their price objective on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $9.88.

Valley National Bancorp Trading Down 0.1 %

NASDAQ:VLY traded down $0.01 on Wednesday, hitting $10.68. 4,419,540 shares of the stock were exchanged, compared to its average volume of 6,170,951. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The stock has a market cap of $5.44 billion, a PE ratio of 17.24 and a beta of 1.07. The stock has a fifty day moving average of $9.48 and a 200-day moving average of $8.28. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.22.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The business had revenue of $921.22 million during the quarter, compared to analyst estimates of $467.87 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts expect that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, December 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.