65,594 Shares in Valley National Bancorp $VLY Purchased by CW Advisors LLC

Key Points

• CW Advisors LLC purchased a new stake of 65,594 shares in Valley National Bancorp valued at approximately $592,000 in the first quarter.
• Valley National Bancorp reported earnings of $0.23 per share for the quarter, surpassing the consensus estimate of $0.22, while revenues grew 9.3% year-over-year.
• The company announced a quarterly dividend of $0.11 per share, translating to an annual yield of 4.2%, with a payout ratio of 56.41%.

CW Advisors LLC acquired a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 65,594 shares of the company's stock, valued at approximately $592,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VLY. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Valley National Bancorp in the 1st quarter valued at about $35,000. Farther Finance Advisors LLC boosted its stake in shares of Valley National Bancorp by 206.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock valued at $38,000 after buying an additional 2,896 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Valley National Bancorp in the 4th quarter valued at about $39,000. Brown Lisle Cummings Inc. purchased a new position in shares of Valley National Bancorp in the 1st quarter valued at about $39,000. Finally, Optiver Holding B.V. boosted its stake in shares of Valley National Bancorp by 80.9% in the 4th quarter. Optiver Holding B.V. now owns 5,079 shares of the company's stock valued at $46,000 after buying an additional 2,271 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock traded up $0.01 on Monday, hitting $10.46. The stock had a trading volume of 6,584,612 shares, compared to its average volume of 7,650,314. Valley National Bancorp has a 52-week low of $7.48 and a 52-week high of $11.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 13.41 and a beta of 1.13. The company's 50 day moving average price is $9.59 and its 200 day moving average price is $9.09.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%.The business had revenue of $495.01 million during the quarter, compared to the consensus estimate of $495.79 million. During the same period in the previous year, the business earned $0.13 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Valley National Bancorp's payout ratio is presently 56.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VLY shares. Jefferies Financial Group started coverage on Valley National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $10.00 price objective on the stock. Wall Street Zen upgraded Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Truist Financial upgraded Valley National Bancorp from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a report on Friday, July 25th. Finally, Morgan Stanley upgraded Valley National Bancorp from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $10.00 to $11.00 in a report on Thursday, July 3rd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.95.

Valley National Bancorp Company Profile

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.