Landscape Capital Management L.L.C. Invests $1.91 Million in Valley National Bancorp $VLY

Key Points

• Landscape Capital Management acquired 130,071 shares of Valley National Bancorp in the second quarter, valued at approximately $1.91 million. Institutional investors collectively own 61% of the company.
• Analysts maintain a generally positive outlook, with Valley National receiving a consensus “Moderate Buy” rating and an average price target of $16.03, above its recent $14.16 price.
• Valley National reported quarterly revenue of $560.74 million, up 13.3% year over year, though earnings per share of $0.30 slightly missed expectations. The bank declared a quarterly dividend of $0.11, representing a 3.1% annualized yield.

Landscape Capital Management L.L.C. bought a new stake in Valley National Bancorp (NASDAQ:VLY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 130,071 shares of the company's stock, valued at approximately $1,906,000.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Valley National Bancorp by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company's stock worth $2,508,000 after acquiring an additional 15,771 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Valley National Bancorp in the 1st quarter worth approximately $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Valley National Bancorp by 21.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company's stock valued at $12,852,000 after purchasing an additional 255,870 shares during the last quarter. Focus Partners Wealth lifted its position in Valley National Bancorp by 34.9% in the first quarter. Focus Partners Wealth now owns 60,868 shares of the company's stock valued at $541,000 after purchasing an additional 15,761 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Valley National Bancorp during the second quarter valued at approximately $119,000. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Valley National Bancorp from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of Valley National Bancorp from $17.50 to $17.00 and set an "overweight" rating for the company in a report on Friday, July 24th. TD Cowen reissued a "buy" rating on shares of Valley National Bancorp in a research report on Wednesday, June 17th. Barclays increased their price target on shares of Valley National Bancorp from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley restated a "positive" rating on shares of Valley National Bancorp in a research report on Monday, June 29th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $16.03.

Valley National Bancorp Trading Up 0.3%

NASDAQ VLY opened at $14.16 on Friday. The stock has a market cap of $7.82 billion, a P/E ratio of 12.00 and a beta of 1.04. Valley National Bancorp has a fifty-two week low of $9.64 and a fifty-two week high of $15.20. The stock has a 50 day simple moving average of $14.57 and a two-hundred day simple moving average of $13.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). The business had revenue of $560.74 million for the quarter, compared to analysts' expectations of $557.16 million. Valley National Bancorp had a net margin of 19.49% and a return on equity of 9.13%. Valley National Bancorp's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. On average, analysts forecast that Valley National Bancorp will post 1.28 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.44 annualized dividend and a yield of 3.1%. Valley National Bancorp's payout ratio is 37.29%.

Insider Transactions at Valley National Bancorp

In other Valley National Bancorp news, CAO Mitchell L. Crandell sold 25,495 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $14.63, for a total transaction of $372,991.85. Following the transaction, the chief accounting officer directly owned 76,116 shares of the company's stock, valued at approximately $1,113,577.08. The trade was a 25.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.06% of the company's stock.

About Valley National Bancorp

Valley National Bancorp NASDAQ: VLY is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.

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