Weiss Asset Management LP purchased a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 52,978 shares of the company's stock, valued at approximately $480,000.
Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Valley National Bancorp in the 3rd quarter worth $25,000. Blue Trust Inc. increased its stake in shares of Valley National Bancorp by 48.2% during the third quarter. Blue Trust Inc. now owns 4,809 shares of the company's stock worth $44,000 after purchasing an additional 1,564 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Valley National Bancorp during the 2nd quarter worth about $38,000. Hexagon Capital Partners LLC lifted its stake in Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company's stock valued at $56,000 after buying an additional 5,001 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company's stock worth $62,000 after buying an additional 2,151 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on VLY shares. Wedbush reissued a "neutral" rating and set a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. Piper Sandler increased their price objective 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. JPMorgan Chase & Co. raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $10.50 to $11.00 in a research note on Monday, November 11th. StockNews.com cut shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada raised 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 note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.00.
Check Out Our Latest Analysis on VLY
Valley National Bancorp Trading Down 0.2 %
Shares of VLY stock traded down $0.02 during trading hours on Tuesday, hitting $10.37. The company had a trading volume of 4,409,640 shares, compared to its average volume of 6,112,035. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The stock has a market capitalization of $5.28 billion, a PE ratio of 16.95 and a beta of 1.09. The company's fifty day moving average is $9.76 and its 200 day moving average is $8.46. 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 analysts' consensus estimates of $0.18. The company 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 period in the prior year, the firm earned $0.26 earnings per share. Research analysts expect that Valley National Bancorp will post 0.65 earnings per share for the current fiscal year.
Valley National Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Friday, December 13th. Valley National Bancorp's dividend payout ratio is presently 70.97%.
About Valley National Bancorp
(
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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