Walleye Capital LLC Boosts Stock Holdings in Valley National Bancorp $VLY

Key Points

• Walleye Capital LLC increased its holdings in Valley National Bancorp by 35.8% during the first quarter, owning 398,746 shares valued at approximately $3.55 million.
• Analysts have upgraded their ratings on Valley National Bancorp, with Morgan Stanley raising it to "overweight" and setting a target price of $11.00.
• Valley National Bancorp recently declared a quarterly dividend of $0.11 per share, which reflects an annualized yield of 4.2%.

Walleye Capital LLC grew its position in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) by 35.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 398,746 shares of the company's stock after buying an additional 105,179 shares during the quarter. Walleye Capital LLC owned 0.07% of Valley National Bancorp worth $3,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. grew its holdings in shares of Valley National Bancorp by 191.3% during the first quarter. 1832 Asset Management L.P. now owns 62,600 shares of the company's stock valued at $557,000 after buying an additional 41,112 shares during the last quarter. CW Advisors LLC purchased a new stake in shares of Valley National Bancorp during the first quarter valued at approximately $592,000. Martingale Asset Management L P grew its holdings in shares of Valley National Bancorp by 211.5% during the first quarter. Martingale Asset Management L P now owns 93,504 shares of the company's stock valued at $831,000 after buying an additional 63,483 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Valley National Bancorp during the first quarter valued at approximately $35,000. Finally, Versor Investments LP grew its holdings in shares of Valley National Bancorp by 95.0% during the first quarter. Versor Investments LP now owns 192,700 shares of the company's stock valued at $1,713,000 after buying an additional 93,900 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on VLY. Morgan Stanley raised shares of Valley National Bancorp from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $10.00 to $11.00 in a research report on Thursday, July 3rd. Barclays reaffirmed an "underweight" rating on shares of Valley National Bancorp in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Valley National Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Truist Financial raised shares of Valley National Bancorp from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their target price 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. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Valley National Bancorp has a consensus rating of "Moderate Buy" and an average target price of $10.95.

Valley National Bancorp Trading Up 1.5%

Shares of Valley National Bancorp stock opened at $10.41 on Wednesday. The company's fifty day simple moving average is $9.45 and its 200-day simple moving average is $9.09. The stock has a market capitalization of $5.83 billion, a PE ratio of 13.35 and a beta of 1.09. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $11.10. 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 (NASDAQ:VLY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $495.01 million for the quarter, compared to analysts' expectations of $495.79 million. Valley National Bancorp had a net margin of 12.87% and a return on equity of 5.89%. The company's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. As a group, equities analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

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

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