Valley National Bancorp (NASDAQ:VLY) Stake Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its holdings in Valley National Bancorp (NASDAQ:VLYGet Rating) by 27.6% in the third quarter, Holdings Channel.com reports. The firm owned 41,115 shares of the company’s stock after purchasing an additional 8,897 shares during the period. Janney Montgomery Scott LLC’s holdings in Valley National Bancorp were worth $444,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sandy Spring Bank acquired a new position in shares of Valley National Bancorp in the second quarter worth $46,000. CWM LLC increased its stake in shares of Valley National Bancorp by 119.6% in the second quarter. CWM LLC now owns 4,920 shares of the company’s stock worth $51,000 after acquiring an additional 2,680 shares during the last quarter. Covestor Ltd increased its stake in shares of Valley National Bancorp by 73.0% in the first quarter. Covestor Ltd now owns 6,213 shares of the company’s stock worth $81,000 after acquiring an additional 2,622 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Valley National Bancorp in the second quarter worth $104,000. Finally, M&T Bank Corp increased its stake in shares of Valley National Bancorp by 46.2% in the second quarter. M&T Bank Corp now owns 14,719 shares of the company’s stock worth $105,000 after acquiring an additional 4,649 shares during the last quarter. Hedge funds and other institutional investors own 54.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VLY. Morgan Stanley began coverage on shares of Valley National Bancorp in a research note on Monday, December 5th. They issued an “equal weight” rating and a $14.00 price target on the stock. Raymond James started coverage on shares of Valley National Bancorp in a research note on Tuesday, December 20th. They issued a “strong-buy” rating and a $14.00 price target on the stock. Piper Sandler lowered their target price on shares of Valley National Bancorp to $14.00 in a research report on Wednesday, October 5th. Hovde Group lowered their target price on shares of Valley National Bancorp to $14.00 in a research report on Tuesday, November 1st. Finally, StockNews.com started coverage on shares of Valley National Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Valley National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $13.71.

Valley National Bancorp Stock Performance

Shares of NASDAQ:VLY opened at $11.24 on Tuesday. The firm has a market capitalization of $5.69 billion, a P/E ratio of 10.60 and a beta of 1.12. The company has a 50-day simple moving average of $11.66. Valley National Bancorp has a 52-week low of $10.01 and a 52-week high of $14.80. 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 (NASDAQ:VLYGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $510.19 million for the quarter, compared to the consensus estimate of $505.78 million. Valley National Bancorp had a return on equity of 10.78% and a net margin of 27.19%. As a group, equities analysts predict that Valley National Bancorp will post 1.31 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Wednesday, December 14th. Valley National Bancorp’s dividend payout ratio is currently 41.51%.

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.

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

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