Valley National Bancorp (NASDAQ:VLY) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Valley National Bancorp (NASDAQ:VLY) by 41.7% in the 3rd quarter, Holdings Channel reports. The fund owned 1,494,390 shares of the company’s stock after purchasing an additional 439,831 shares during the period. JPMorgan Chase & Co.’s holdings in Valley National Bancorp were worth $13,539,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its position in shares of Valley National Bancorp by 170.0% in the third quarter. Sanctuary Advisors LLC now owns 67,861 shares of the company’s stock worth $615,000 after purchasing an additional 42,731 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in Valley National Bancorp in the 3rd quarter worth approximately $154,000. Geode Capital Management LLC boosted its stake in shares of Valley National Bancorp by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,164,934 shares of the company’s stock valued at $101,170,000 after buying an additional 300,385 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in shares of Valley National Bancorp by 14.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 20,337 shares of the company’s stock valued at $179,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Valley National Bancorp by 384.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,970,862 shares of the company’s stock valued at $81,276,000 after acquiring an additional 7,118,044 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on VLY. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their price target on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Citigroup dropped their price objective on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, December 31st. Wedbush reiterated a “neutral” rating and issued a $10.00 target price on shares of Valley National Bancorp in a research note on Friday, October 25th. Finally, Royal Bank of Canada increased 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 note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.39.

Valley National Bancorp Stock Performance

Shares of VLY opened at $8.62 on Friday. The company has a market capitalization of $4.39 billion, a PE ratio of 13.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.10. The company’s fifty day moving average price is $9.84 and its 200 day moving average price is $8.87.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates 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 period in the previous year, the company posted $0.26 earnings per share. As a group, analysts expect that Valley National Bancorp will post 0.65 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.11 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.44 annualized dividend and a dividend yield of 5.10%. Valley National Bancorp’s dividend payout ratio is 70.97%.

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.