Intech Investment Management LLC Has $4.47 Million Stock Holdings in Valley National Bancorp $VLY

Key Points

• Intech Investment Management LLC increased its stake in Valley National Bancorp by 40.7%, acquiring an additional 145,549 shares to own a total of 502,987 shares worth approximately $4.47 million.
• Valley National Bancorp recently reported quarterly earnings of $0.23 per share, beating the consensus estimate of $0.22, along with a year-over-year revenue increase of 9.3%.
• The firm has announced a quarterly dividend of $0.11 per share, representing a 4.1% yield, with the dividend payment scheduled for October 1st.

Intech Investment Management LLC increased its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 40.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,987 shares of the company's stock after acquiring an additional 145,549 shares during the period. Intech Investment Management LLC owned about 0.09% of Valley National Bancorp worth $4,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of VLY. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Valley National Bancorp during the first quarter worth $35,000. 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 worth $38,000 after acquiring an additional 2,896 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Valley National Bancorp during the fourth quarter worth $39,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Valley National Bancorp during the first quarter worth $39,000. Finally, UMB Bank n.a. raised its holdings in shares of Valley National Bancorp by 219.6% during the first 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 in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VLY has been the subject of several recent research reports. Hovde Group began coverage on Valley National Bancorp in a report on Wednesday, September 10th. They set an "outperform" rating and a $12.50 price objective for the company. Morgan Stanley increased their target price on shares of Valley National Bancorp from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 9th. Royal Bank Of Canada increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Barclays reissued an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.85.

Valley National Bancorp Stock Performance

Shares of Valley National Bancorp stock traded down $0.14 during trading on Monday, reaching $10.65. The company's stock had a trading volume of 6,845,786 shares, compared to its average volume of 7,236,781. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.97. The business's fifty day moving average price is $9.88 and its 200-day moving average price is $9.16. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 13.65 and a beta of 1.13. Valley National Bancorp has a one year low of $7.48 and a one year high of $11.10.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $495.79 million. During the same period in the previous year, the company posted $0.13 earnings per share. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.44 dividend on an annualized basis and a yield of 4.1%. Valley National Bancorp's dividend payout ratio is 56.41%.

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.