J.W. Cole Advisors Inc. Acquires New Holdings in Valley National Bancorp (NASDAQ:VLY)

J.W. Cole Advisors Inc. bought a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 362,000 shares of the company's stock, valued at approximately $3,218,000. J.W. Cole Advisors Inc. owned approximately 0.06% of Valley National Bancorp as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of VLY. Raymond James Financial Inc. acquired a new stake in Valley National Bancorp in the 4th quarter valued at $2,261,000. HighTower Advisors LLC grew its holdings in shares of Valley National Bancorp by 140.3% during the fourth quarter. HighTower Advisors LLC now owns 76,493 shares of the company's stock valued at $693,000 after buying an additional 44,662 shares during the last quarter. Swiss National Bank increased its holdings in Valley National Bancorp by 0.8% in the 4th quarter. Swiss National Bank now owns 851,360 shares of the company's stock worth $7,713,000 after acquiring an additional 6,500 shares in the last quarter. Cibc World Markets Corp purchased a new stake in Valley National Bancorp in the 4th quarter worth $397,000. Finally, Xponance Inc. lifted its stake in shares of Valley National Bancorp by 13.7% in the 4th quarter. Xponance Inc. now owns 66,588 shares of the company's stock valued at $603,000 after purchasing an additional 8,032 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VLY shares. Piper Sandler raised Valley National Bancorp from a "neutral" rating to an "overweight" rating and set a $11.00 price objective for the company in a research note on Monday, March 24th. Wall Street Zen cut shares of Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, May 17th. Barclays restated an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Morgan Stanley raised Valley National Bancorp from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $10.00 to $11.00 in a report on Thursday, July 3rd. Finally, Jefferies Financial Group assumed coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Valley National Bancorp presently has a consensus rating of "Hold" and an average target price of $10.73.

Valley National Bancorp Trading Up 0.2%

Shares of VLY stock traded up $0.02 during trading on Monday, hitting $9.53. 6,303,936 shares of the stock traded hands, compared to its average volume of 8,041,551. Valley National Bancorp has a 52-week low of $7.18 and a 52-week high of $11.10. The firm's fifty day moving average price is $9.03 and its 200-day moving average price is $9.10. The firm 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 debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate 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 business had revenue of $479.67 million during the quarter, compared to analysts' expectations of $483.98 million. During the same quarter in the previous year, the business posted $0.19 EPS. As a group, research analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Friday, June 13th. Valley National Bancorp's dividend payout ratio (DPR) 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.