Hourglass Capital LLC Has $3.95 Million Stock Position in Valley National Bancorp (NASDAQ:VLY)

Hourglass Capital LLC grew its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 444,513 shares of the company's stock after purchasing an additional 26,280 shares during the period. Hourglass Capital LLC owned approximately 0.08% of Valley National Bancorp worth $3,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Valley National Bancorp by 206.6% during the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock valued at $38,000 after purchasing an additional 2,896 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Valley National Bancorp during the fourth quarter valued at about $39,000. Brown Lisle Cummings Inc. acquired a new position in shares of Valley National Bancorp during the first quarter valued at about $39,000. Optiver Holding B.V. raised its holdings 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 worth $46,000 after acquiring an additional 2,271 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Valley National Bancorp by 219.6% in the 1st quarter. UMB Bank n.a. now owns 5,571 shares of the company's stock worth $50,000 after acquiring an additional 3,828 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VLY. Truist Financial began coverage on shares of Valley National Bancorp in a report on Tuesday, May 13th. They issued a "hold" rating and a $10.00 target price on the stock. Wall Street Zen lowered shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Barclays lowered their target price on shares of Valley National Bancorp from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Piper Sandler upgraded shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 target price on the stock in a report on Monday, March 24th. Finally, Morgan Stanley upgraded shares of Valley National Bancorp from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $10.00 to $11.00 in a report on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Valley National Bancorp currently has a consensus rating of "Hold" and a consensus target price of $10.64.

Valley National Bancorp Stock Down 1.3%

Valley National Bancorp stock opened at $9.53 on Tuesday. Valley National Bancorp has a twelve month low of $6.57 and a twelve month high of $11.10. The firm has a 50 day moving average price of $8.90 and a 200-day moving average price of $9.07. The company has a market capitalization of $5.34 billion, a P/E ratio of 13.81 and a beta of 1.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last released its earnings results 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). Valley National Bancorp had a net margin of 11.03% and a return on equity of 5.12%. The company had revenue of $479.67 million for the quarter, compared to the consensus estimate of $483.98 million. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, equities analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Friday, June 13th. Valley National Bancorp's dividend payout ratio is currently 63.77%.

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.

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