Jaffetilchin Investment Partners LLC Buys Shares of 88,168 Valley National Bancorp (NASDAQ:VLY)

Jaffetilchin Investment Partners LLC bought a new position in Valley National Bancorp (NASDAQ:VLY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 88,168 shares of the company's stock, valued at approximately $784,000.

Several other hedge funds have also recently made changes to their positions in VLY. Farther Finance Advisors LLC increased its position in 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 acquiring an additional 2,896 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Valley National Bancorp during the 4th quarter valued at about $39,000. Brown Lisle Cummings Inc. bought a new position in Valley National Bancorp during the 1st quarter valued at about $39,000. Optiver Holding B.V. raised its position in 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 purchasing an additional 2,271 shares during the period. Finally, UMB Bank n.a. lifted its stake in 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 last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VLY shares. Jefferies Financial Group initiated coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $10.00 price target for the company. Truist Financial started coverage on Valley National Bancorp in a research report on Tuesday, May 13th. They set a "hold" rating and a $10.00 target price for the company. Barclays cut their price target 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 raised shares of Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price target on the stock in a research note on Monday, March 24th. Finally, Wall Street Zen cut shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, May 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.55.

Valley National Bancorp Stock Up 2.7%

VLY stock traded up $0.25 during trading on Tuesday, hitting $9.18. 17,253,847 shares of the company's stock traded hands, compared to its average volume of 7,872,334. The firm has a market capitalization of $5.14 billion, a P/E ratio of 13.30 and a beta of 1.06. Valley National Bancorp has a 1 year low of $6.56 and a 1 year 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 business has a fifty day simple moving average of $8.80 and a two-hundred day simple moving average of $9.07.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $483.98 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Sell-side analysts anticipate that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.44 annualized dividend and a yield of 4.80%. Valley National Bancorp's dividend payout ratio (DPR) is presently 63.77%.

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.