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Valley National Bancorp $VLY Shares Acquired by Intech Investment Management LLC

Valley National Bancorp logo with Finance background

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.
  • Five stocks to consider instead of Valley National Bancorp.

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

Other institutional investors have also bought and sold shares of the company. State of Michigan Retirement System lifted its holdings in shares of Valley National Bancorp by 1.1% in the first quarter. State of Michigan Retirement System now owns 113,681 shares of the company's stock valued at $1,011,000 after purchasing an additional 1,200 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Valley National Bancorp by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 133,100 shares of the company's stock valued at $1,183,000 after acquiring an additional 1,300 shares in the last quarter. Forum Financial Management LP boosted its holdings in Valley National Bancorp by 7.8% during the 1st quarter. Forum Financial Management LP now owns 19,142 shares of the company's stock worth $170,000 after acquiring an additional 1,381 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Valley National Bancorp by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 55,597 shares of the company's stock worth $494,000 after acquiring an additional 1,465 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake 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 acquiring an additional 1,576 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Valley National Bancorp Stock Up 2.9%

Valley National Bancorp stock traded up $0.32 during midday trading on Thursday, hitting $11.04. 3,471,719 shares of the company's stock were exchanged, compared to its average volume of 8,933,258. 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 company has a market cap of $6.18 billion, a PE ratio of 14.16 and a beta of 1.13. The firm has a 50-day moving average of $9.92 and a two-hundred day moving average of $9.18. Valley National Bancorp has a 12 month low of $7.48 and a 12 month high of $11.10.

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

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 4.0%. Valley National Bancorp's dividend payout ratio is presently 56.41%.

Wall Street Analyst Weigh In

VLY has been the topic of a number of recent analyst reports. Citigroup upgraded Valley National Bancorp from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $10.00 to $13.50 in a research note on Monday. Truist Financial boosted their price objective on Valley National Bancorp from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Wall Street Zen raised shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Barclays reissued an "underweight" rating on shares of Valley National Bancorp in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.85.

Get Our Latest Research Report on Valley National Bancorp

Valley National Bancorp Profile

(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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Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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