Ghisallo Capital Management LLC Has $3.11 Million Stake in Valley National Bancorp $VLY

Key Points

• Ghisallo Capital Management LLC reduced its position in Valley National Bancorp by 72%, selling 900,000 shares and retaining 350,000 shares worth approximately $3.11 million.
• The company reported earnings of $0.23 per share for the last quarter, exceeding analyst expectations, with a revenue of $495.01 million, reflecting a 9.3% year-over-year increase.
• Valley National Bancorp has declared a dividend of $0.11 per share, resulting in a 4.2% dividend yield and a payout ratio of 56.41%.

Ghisallo Capital Management LLC decreased its holdings in Valley National Bancorp (NASDAQ:VLY - Free Report) by 72.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the company's stock after selling 900,000 shares during the quarter. Ghisallo Capital Management LLC owned 0.06% of Valley National Bancorp worth $3,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of VLY. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Valley National Bancorp in the 1st quarter worth about $35,000. Farther Finance Advisors LLC increased its position in shares of Valley National Bancorp by 206.6% in the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock worth $38,000 after purchasing an additional 2,896 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Valley National Bancorp in the fourth quarter worth $39,000. Brown Lisle Cummings Inc. bought a new position in shares of Valley National Bancorp in the first quarter worth $39,000. Finally, UMB Bank n.a. increased its position in shares of Valley National Bancorp by 219.6% in the first quarter. UMB Bank n.a. now owns 5,571 shares of the company's stock worth $50,000 after purchasing an additional 3,828 shares during the period. Institutional investors and hedge funds own 61.00% of the company's stock.

Valley National Bancorp Trading Up 1.3%

VLY traded up $0.14 during trading on Thursday, hitting $10.65. The company's stock had a trading volume of 6,748,082 shares, compared to its average volume of 8,984,095. Valley National Bancorp has a twelve month low of $7.48 and a twelve month high of $11.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock's fifty day moving average price is $9.66 and its 200-day moving average price is $9.11. The firm has a market capitalization of $5.96 billion, a P/E ratio of 13.65 and a beta of 1.13.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.23 earnings per share (EPS) 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 firm had revenue of $495.01 million for the quarter, compared to analyst estimates of $495.79 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The company's revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Valley National Bancorp's dividend payout ratio is presently 56.41%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley upgraded Valley National Bancorp from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $10.00 to $11.00 in a research report on Thursday, July 3rd. Wall Street Zen upgraded Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Barclays reiterated an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Jefferies Financial Group assumed coverage on Valley National Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $10.00 target price on the stock. Finally, Royal Bank Of Canada boosted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Valley National Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $10.95.

Valley National Bancorp 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.