Cerity Partners LLC boosted its stake in Valley National Bancorp (NASDAQ:VLY - Free Report) by 48.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,843 shares of the company's stock after purchasing an additional 82,425 shares during the period. Cerity Partners LLC's holdings in Valley National Bancorp were worth $2,257,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of VLY. Linden Thomas Advisory Services LLC grew its position in shares of Valley National Bancorp by 2.8% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 57,456 shares of the company's stock worth $511,000 after buying an additional 1,576 shares during the last quarter. Hourglass Capital LLC raised its stake in Valley National Bancorp by 6.3% during the first quarter. Hourglass Capital LLC now owns 444,513 shares of the company's stock valued at $3,952,000 after buying an additional 26,280 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in Valley National Bancorp by 33.3% during the first quarter. OneDigital Investment Advisors LLC now owns 17,058 shares of the company's stock valued at $152,000 after buying an additional 4,261 shares during the last quarter. Principal Financial Group Inc. raised its stake in Valley National Bancorp by 1.0% during the first quarter. Principal Financial Group Inc. now owns 1,100,892 shares of the company's stock valued at $9,787,000 after buying an additional 10,996 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Valley National Bancorp during the first quarter valued at $652,000. 61.00% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on VLY shares. Jefferies Financial Group started coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $10.00 price target for the company. Wall Street Zen cut Valley National Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th. Piper Sandler upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target for the company in a research note on Monday, March 24th. Truist Financial started coverage on Valley National Bancorp in a research report on Tuesday, May 13th. They set a "hold" rating and a $10.00 price objective for the company. Finally, Barclays reiterated an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Valley National Bancorp has a consensus rating of "Hold" and a consensus price target of $10.73.
Check Out Our Latest Stock Analysis on VLY
Valley National Bancorp Price Performance
Shares of NASDAQ VLY traded up $0.02 during mid-day trading on Monday, reaching $9.53. The company's stock had a trading volume of 6,303,936 shares, compared to its average volume of 9,270,702. The firm has a market capitalization of $5.34 billion, a PE ratio of 13.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a fifty day moving average of $9.03 and a two-hundred day moving average of $9.10. Valley National Bancorp has a 52 week low of $7.18 and a 52 week high of $11.10.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The business had revenue of $479.67 million during the quarter, compared to the consensus estimate of $483.98 million. Valley National Bancorp had a return on equity of 5.12% and a net margin of 11.03%. During the same period last year, the company earned $0.19 EPS. As a group, sell-side analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current fiscal year.
Valley National Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.62%. The ex-dividend date was Friday, June 13th. Valley National Bancorp's dividend payout ratio is presently 63.77%.
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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