Martingale Asset Management L P Invests $107,000 in Valley National Bancorp (NASDAQ:VLY)

Martingale Asset Management L P purchased a new position in shares of Valley National Bancorp (NASDAQ:VLYGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,200 shares of the company’s stock, valued at approximately $107,000.

A number of other large investors have also recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in Valley National Bancorp by 2.1% in the first quarter. Bank of Montreal Can now owns 47,828 shares of the company’s stock worth $630,000 after acquiring an additional 989 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Valley National Bancorp by 2.1% in the first quarter. Hsbc Holdings PLC now owns 56,247 shares of the company’s stock worth $737,000 after acquiring an additional 1,154 shares during the last quarter. Securian Asset Management Inc. lifted its holdings in Valley National Bancorp by 4.0% in the first quarter. Securian Asset Management Inc. now owns 37,814 shares of the company’s stock worth $492,000 after acquiring an additional 1,449 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Valley National Bancorp in the first quarter worth about $25,000. Finally, Altium Wealth Management LLC lifted its holdings in Valley National Bancorp by 6.1% in the second quarter. Altium Wealth Management LLC now owns 37,784 shares of the company’s stock worth $393,000 after acquiring an additional 2,181 shares during the last quarter. Institutional investors own 68.99% of the company’s stock.

Valley National Bancorp Stock Performance

VLY opened at $12.51 on Thursday. The business’s 50 day moving average is $11.74 and its 200-day moving average is $11.55. The stock has a market cap of $6.33 billion, a PE ratio of 11.80 and a beta of 1.10. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.26. Valley National Bancorp has a twelve month low of $10.01 and a twelve month high of $15.10.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.52%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 41.51%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Hovde Group cut their target price on shares of Valley National Bancorp to $14.00 in a report on Tuesday, November 1st. Janney Montgomery Scott assumed coverage on Valley National Bancorp in a report on Thursday, August 4th. They set a “buy” rating on the stock. StockNews.com assumed coverage on Valley National Bancorp in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Piper Sandler cut their price target on Valley National Bancorp to $14.00 in a report on Wednesday, October 5th.

Valley National Bancorp Company Profile

(Get Rating)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Commercial Lending, Consumer Lending, and Investment Management segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.

See Also

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Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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