Trexquant Investment LP Increases Stock Holdings in Valley National Bancorp $VLY

Key Points

• Trexquant Investment LP increased its stake in Valley National Bancorp by 61.6%, now owning 1,062,142 shares valued at approximately $9.44 million.
• Valley National Bancorp reported a quarterly EPS of $0.23, beating analysts' estimates, with a year-over-year revenue increase of 9.3%.
• The company declared a quarterly dividend of $0.11 per share, representing a dividend yield of 4.2%, payable on October 1st.

Trexquant Investment LP grew its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 61.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,062,142 shares of the company's stock after buying an additional 404,694 shares during the quarter. Trexquant Investment LP owned 0.19% of Valley National Bancorp worth $9,442,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. State of Michigan Retirement System raised its position in Valley National Bancorp by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 113,681 shares of the company's stock worth $1,011,000 after buying an additional 1,200 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Valley National Bancorp by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 133,100 shares of the company's stock worth $1,183,000 after acquiring an additional 1,300 shares during the period. Forum Financial Management LP grew its holdings in Valley National Bancorp by 7.8% during the first 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 period. State of Alaska Department of Revenue grew its holdings in Valley National Bancorp by 2.7% during the first 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 period. Finally, Linden Thomas Advisory Services LLC grew its holdings in Valley National Bancorp by 2.8% during the first 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 during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VLY. Wall Street Zen raised Valley National Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada upped their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Morgan Stanley raised Valley National Bancorp from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $10.00 to $11.00 in a report on Thursday, July 3rd. Barclays reaffirmed an "underweight" rating on shares of Valley National Bancorp in a report on Tuesday, July 8th. Finally, Jefferies Financial Group began coverage on Valley National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $10.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Valley National Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $10.95.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY traded up $0.14 during trading on Thursday, reaching $10.65. The company had a trading volume of 6,898,126 shares, compared to its average volume of 7,389,524. Valley National Bancorp has a twelve month low of $7.48 and a twelve month high of $11.10. The stock has a market capitalization of $5.96 billion, a PE ratio of 13.65 and a beta of 1.13. The stock has a 50-day moving average price of $9.69 and a two-hundred day moving average price of $9.12. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

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, topping analysts' consensus estimates of $0.22 by $0.01. Valley National Bancorp had a return on equity of 5.89% and a net margin of 12.87%.The company had revenue of $495.01 million during the quarter, compared to analysts' expectations of $495.79 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Valley National Bancorp's payout ratio is 56.41%.

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.