Great West Life Assurance Co. Can Buys 32,498 Shares of Valley National Bancorp (NASDAQ:VLY)

Great West Life Assurance Co. Can increased its holdings in Valley National Bancorp (NASDAQ:VLYGet Rating) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 297,751 shares of the company’s stock after purchasing an additional 32,498 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.06% of Valley National Bancorp worth $3,215,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VLY. US Bancorp DE grew its stake in shares of Valley National Bancorp by 82.6% in the third quarter. US Bancorp DE now owns 2,527 shares of the company’s stock worth $28,000 after purchasing an additional 1,143 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new position in Valley National Bancorp in the third quarter valued at $38,000. Sandy Spring Bank acquired a new position in Valley National Bancorp in the second quarter valued at $46,000. CWM LLC lifted its holdings in Valley National Bancorp by 119.6% in the second quarter. CWM LLC now owns 4,920 shares of the company’s stock valued at $51,000 after buying an additional 2,680 shares during the period. Finally, Asset Dedication LLC acquired a new position in Valley National Bancorp in the third quarter valued at $51,000. Institutional investors own 54.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VLY. Piper Sandler dropped their target price on shares of Valley National Bancorp to $14.00 in a report on Wednesday, October 5th. JPMorgan Chase & Co. decreased their target price on Valley National Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, December 13th. Morgan Stanley assumed coverage on Valley National Bancorp in a research note on Monday, December 5th. They set an “equal weight” rating and a $14.00 price target on the stock. Raymond James assumed coverage on Valley National Bancorp in a research note on Tuesday, December 20th. They set a “strong-buy” rating and a $14.00 price target on the stock. Finally, Hovde Group dropped their price target on Valley National Bancorp to $14.00 in a research note on Tuesday, November 1st. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.71.

Valley National Bancorp Stock Down 1.7 %

Shares of Valley National Bancorp stock opened at $11.05 on Wednesday. The stock has a market capitalization of $5.60 billion, a P/E ratio of 10.42 and a beta of 1.12. Valley National Bancorp has a 52 week low of $10.01 and a 52 week high of $14.80. The business has a 50 day moving average of $11.63. 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 data on Thursday, October 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $510.19 million during 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, research analysts anticipate that Valley National Bancorp will post 1.31 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Wednesday, December 14th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 41.51%.

About Valley National Bancorp

(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.

Further Reading

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

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