Natixis Advisors LLC Takes Position in Valley National Bancorp (NASDAQ:VLY)

Key Points

• Natixis Advisors LLC invested approximately $231,000 in Valley National Bancorp, acquiring 25,944 shares in the 1st quarter, according to its SEC filing.
• Valley National Bancorp announced a quarterly dividend of $0.11, contributing to an annualized dividend yield of 4.5%.
• Wall Street analysts have rated Valley National Bancorp with an average rating of "Moderate Buy" and a target price of $10.95, with six analysts issuing buy ratings.

Natixis Advisors LLC bought a new position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,944 shares of the company's stock, valued at approximately $231,000.

Other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in Valley National Bancorp by 28.4% during the fourth quarter. Wells Fargo & Company MN now owns 320,847 shares of the company's stock worth $2,907,000 after purchasing an additional 70,967 shares during the period. Bank of Montreal Can lifted its stake in Valley National Bancorp by 24.0% in the 4th quarter. Bank of Montreal Can now owns 50,784 shares of the company's stock valued at $460,000 after purchasing an additional 9,835 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Valley National Bancorp by 0.4% in the fourth quarter. Legal & General Group Plc now owns 736,365 shares of the company's stock valued at $6,671,000 after buying an additional 2,744 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at approximately $3,553,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at approximately $2,261,000. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded down $0.24 during midday trading on Friday, reaching $9.82. 8,364,223 shares of the company were exchanged, compared to its average volume of 9,140,198. The stock has a market cap of $5.50 billion, a P/E ratio of 12.59 and a beta of 1.09. The stock's 50-day moving average price is $9.26 and its 200-day moving average price is $9.11. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41. 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 announced its quarterly earnings data on Thursday, July 24th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $495.01 million for the quarter, compared to analyst estimates of $495.79 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. The business's quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently announced 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Valley National Bancorp's dividend payout ratio is currently 56.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VLY shares. Barclays reaffirmed an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Morgan Stanley upgraded shares of Valley National Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $10.00 to $11.00 in a research report on Thursday, July 3rd. Jefferies Financial Group started coverage on shares of Valley National Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $10.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.95.

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.