Trexquant Investment LP Has $9.44 Million 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 boosted its stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 61.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,062,142 shares of the company's stock after purchasing an additional 404,694 shares during the period. Trexquant Investment LP owned approximately 0.19% of Valley National Bancorp worth $9,442,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of VLY. Balyasny Asset Management L.P. acquired a new position in Valley National Bancorp in the 4th quarter worth $74,558,000. Wedge Capital Management L L P NC acquired a new position in Valley National Bancorp during the 1st quarter worth $32,286,000. Nuveen LLC acquired a new position in Valley National Bancorp during the 1st quarter worth $15,890,000. Dimensional Fund Advisors LP grew its holdings in Valley National Bancorp by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company's stock worth $267,054,000 after acquiring an additional 1,377,676 shares in the last quarter. Finally, Algert Global LLC grew its holdings in Valley National Bancorp by 1,593.5% during the 1st quarter. Algert Global LLC now owns 1,380,089 shares of the company's stock worth $12,269,000 after acquiring an additional 1,298,597 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VLY. Truist Financial upgraded shares of Valley National Bancorp from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Friday, July 25th. Morgan Stanley upgraded shares of Valley National Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price objective 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 set a "hold" rating and a $10.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays restated an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to 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 VLY traded up $0.01 during mid-day trading on Monday, hitting $10.46. The company's stock had a trading volume of 6,584,612 shares, compared to its average volume of 7,650,314. The firm has a 50-day moving average price of $9.59 and a 200 day moving average price of $9.09. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 13.41 and a beta of 1.13. 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 has a fifty-two week low of $7.48 and a fifty-two week 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 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $495.79 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, research analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, September 15th. This represents a $0.44 annualized dividend and a yield of 4.2%. Valley National Bancorp's dividend payout ratio is 56.41%.

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.