Valley National Bancorp $VLY Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its stake in Valley National Bancorp (NASDAQ:VLY) by 10.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 605,881 shares of the company’s stock after selling 71,147 shares during the quarter. Quantbot Technologies LP owned approximately 0.11% of Valley National Bancorp worth $6,422,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of VLY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Valley National Bancorp by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 282,143 shares of the company’s stock valued at $2,508,000 after purchasing an additional 15,771 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Valley National Bancorp in the 1st quarter valued at approximately $191,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Valley National Bancorp by 21.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,445,644 shares of the company’s stock valued at $12,852,000 after purchasing an additional 255,870 shares during the last quarter. Focus Partners Wealth lifted its stake in Valley National Bancorp by 34.9% during the first quarter. Focus Partners Wealth now owns 60,868 shares of the company’s stock worth $541,000 after purchasing an additional 15,761 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Valley National Bancorp by 6.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock worth $1,935,000 after buying an additional 12,890 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Insiders Place Their Bets

In other Valley National Bancorp news, Director Carlos J. Vazquez bought 2,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $13.45 per share, for a total transaction of $33,625.00. Following the completion of the transaction, the director owned 4,252 shares in the company, valued at approximately $57,189.40. The trade was a 142.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.43% of the company’s stock.

Valley National Bancorp Stock Down 5.7%

Valley National Bancorp stock opened at $12.61 on Friday. The stock’s 50 day moving average price is $12.51 and its 200 day moving average price is $11.40. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $13.87. The company has a market cap of $7.03 billion, a PE ratio of 12.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $524.31 million. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. On average, sell-side analysts predict that Valley National Bancorp will post 0.99 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, March 13th. Valley National Bancorp’s dividend payout ratio is presently 43.56%.

Analysts Set New Price Targets

Several research firms have recently commented on VLY. TD Cowen raised their price objective on shares of Valley National Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Citigroup restated a “buy” rating on shares of Valley National Bancorp in a research note on Monday, February 2nd. Royal Bank Of Canada lifted their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Raymond James Financial raised Valley National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a report on Friday, January 30th. Finally, Weiss Ratings upgraded shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.

Valley National Bancorp Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.