Public Employees Retirement Association of Colorado Sells 3,374 Shares of Valley National Bancorp (NASDAQ:VLY)

Public Employees Retirement Association of Colorado decreased its holdings in Valley National Bancorp (NASDAQ:VLY) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,100 shares of the company’s stock after selling 3,374 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Valley National Bancorp were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. United Services Automobile Association lifted its stake in Valley National Bancorp by 15.7% during the 4th quarter. United Services Automobile Association now owns 36,636 shares of the company’s stock valued at $398,000 after acquiring an additional 4,966 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of Valley National Bancorp by 54,375.0% during the fourth quarter. TFO Wealth Partners LLC now owns 26,148 shares of the company’s stock valued at $284,000 after purchasing an additional 26,100 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Valley National Bancorp during the fourth quarter worth about $754,000. Rafferty Asset Management LLC grew its position in Valley National Bancorp by 50.2% in the 4th quarter. Rafferty Asset Management LLC now owns 811,248 shares of the company’s stock worth $8,810,000 after purchasing an additional 271,264 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in Valley National Bancorp in the 4th quarter valued at about $350,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Valley National Bancorp Stock Down 0.5 %

Valley National Bancorp stock opened at $8.77 on Friday. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 10.32 and a beta of 1.08. The firm has a 50 day simple moving average of $8.36 and a 200 day simple moving average of $7.70. 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 0.99 and a debt-to-equity ratio of 0.51.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The company had revenue of $884.68 million for the quarter, compared to analysts’ expectations of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period last year, the company posted $0.28 EPS. On average, analysts predict that Valley National Bancorp will post 0.7 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.44 annualized dividend and a yield of 5.02%. Valley National Bancorp’s dividend payout ratio is currently 51.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley raised Valley National Bancorp from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $8.00 to $9.50 in a report on Monday, August 5th. Keefe, Bruyette & Woods raised their target price on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research report on Friday, July 26th. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Royal Bank of Canada raised their price objective on shares of Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Valley National Bancorp has a consensus rating of “Hold” and an average price target of $8.56.

About Valley National Bancorp

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.