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Voya Investment Management LLC Acquires 83,573 Shares of Valley National Bancorp $VLY

Valley National Bancorp logo with Finance background

Key Points

  • Voya Investment Management LLC increased its holdings in Valley National Bancorp by 14.9%, owning 643,898 shares worth approximately $5.72 million as of the latest SEC filing.
  • Analysts have rated Valley National Bancorp with a consensus rating of "Moderate Buy" and an average target price of $11.85, along with several upgrades from major firms.
  • The company declared a quarterly dividend of $0.11 to be paid on October 1st, representing a 4.0% dividend yield on an annualized basis.
  • Five stocks to consider instead of Valley National Bancorp.

Voya Investment Management LLC boosted its holdings in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 14.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 643,898 shares of the company's stock after purchasing an additional 83,573 shares during the quarter. Voya Investment Management LLC owned about 0.11% of Valley National Bancorp worth $5,724,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Valley National Bancorp during the 1st quarter valued at approximately $35,000. Farther Finance Advisors LLC boosted its position in shares of Valley National Bancorp by 206.6% during the first quarter. Farther Finance Advisors LLC now owns 4,298 shares of the company's stock worth $38,000 after acquiring an additional 2,896 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in Valley National Bancorp during the first quarter valued at $39,000. UMB Bank n.a. increased its holdings in Valley National Bancorp by 219.6% in the 1st quarter. UMB Bank n.a. now owns 5,571 shares of the company's stock valued at $50,000 after acquiring an additional 3,828 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Valley National Bancorp by 22.4% in the 1st quarter. GAMMA Investing LLC now owns 9,325 shares of the company's stock worth $83,000 after purchasing an additional 1,709 shares in the last quarter. 61.00% of the stock is owned by hedge funds and other institutional investors.

Valley National Bancorp Trading Down 2.0%

Shares of Valley National Bancorp stock traded down $0.22 on Monday, reaching $10.73. The company had a trading volume of 8,308,415 shares, compared to its average volume of 8,069,847. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 13.76 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. The firm's 50-day moving average price is $10.00 and its two-hundred day moving average price is $9.22. Valley National Bancorp has a 1 year low of $7.48 and a 1 year high of $11.12.

Valley National Bancorp (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.23 earnings per share (EPS) 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 the consensus estimate of $495.79 million. During the same period last year, the company earned $0.13 earnings per share. Valley National Bancorp's revenue was up 9.3% on a year-over-year basis. As a group, research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, September 15th. Valley National Bancorp's dividend payout ratio is presently 56.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on VLY shares. Barclays reissued an "underweight" rating on shares of Valley National Bancorp in a report on Tuesday, July 8th. Royal Bank Of Canada increased their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. National Bankshares set a $13.50 price objective on Valley National Bancorp in a research note on Monday, September 15th. Morgan Stanley upped their price objective on Valley National Bancorp from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Tuesday, September 9th. Finally, Hovde Group initiated coverage on Valley National Bancorp in a research report on Wednesday, September 10th. They set an "outperform" rating and a $12.50 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.85.

Check Out Our Latest Report on VLY

Valley National Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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