Atria Investments Inc Raises Position in Valley National Bancorp (NASDAQ:VLY)

Atria Investments Inc increased its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 36.7% during the third quarter, Holdings Channel reports. The institutional investor owned 40,198 shares of the company’s stock after acquiring an additional 10,785 shares during the period. Atria Investments Inc’s holdings in Valley National Bancorp were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Diversified Trust Co grew its holdings in Valley National Bancorp by 11.1% in the second quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock valued at $100,000 after purchasing an additional 1,435 shares during the period. Blue Trust Inc. boosted its stake in Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after acquiring an additional 1,564 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after buying an additional 2,151 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Valley National Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 30,419 shares of the company’s stock worth $276,000 after buying an additional 2,154 shares during the last quarter. Finally, Ignite Planners LLC lifted its position in shares of Valley National Bancorp by 3.4% in the 3rd quarter. Ignite Planners LLC now owns 65,107 shares of the company’s stock worth $590,000 after buying an additional 2,170 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Stock Performance

Shares of NASDAQ:VLY opened at $10.25 on Friday. The business has a 50-day moving average price of $9.36 and a two-hundred day moving average price of $8.21. The stock has a market capitalization of $5.22 billion, a P/E ratio of 16.53 and a beta of 1.07. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The business had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities analysts predict that Valley National Bancorp will post 0.66 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is currently 70.97%.

Analysts Set New Price Targets

Several analysts recently weighed in on VLY shares. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Wedbush reiterated a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a report on Friday, October 25th. Barclays upgraded shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $9.00 to $10.00 in a research note on Thursday, October 31st. Piper Sandler lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.88.

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.