ProShare Advisors LLC Has $545,000 Holdings in Valley National Bancorp (NASDAQ:VLY)

ProShare Advisors LLC cut its stake in Valley National Bancorp (NASDAQ:VLY) by 20.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,041 shares of the company’s stock after selling 20,391 shares during the period. ProShare Advisors LLC’s holdings in Valley National Bancorp were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Valley National Bancorp in the first quarter valued at approximately $43,000. Innealta Capital LLC acquired a new stake in shares of Valley National Bancorp in the 2nd quarter valued at $38,000. Wolverine Asset Management LLC raised its position in shares of Valley National Bancorp by 147.7% during the second quarter. Wolverine Asset Management LLC now owns 9,325 shares of the company’s stock worth $65,000 after acquiring an additional 5,560 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Valley National Bancorp during the second quarter valued at $81,000. Finally, Paloma Partners Management Co bought a new position in Valley National Bancorp in the first quarter valued at about $98,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VLY has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of 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 lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Morgan Stanley lifted their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. cut their price target on 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. Finally, Wedbush lifted their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.63.

Valley National Bancorp Stock Performance

VLY stock opened at $9.06 on Tuesday. 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. The firm has a market cap of $4.61 billion, a PE ratio of 10.66 and a beta of 1.08. The business’s 50-day moving average price is $8.37 and its two-hundred day moving average price is $7.71.

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 the consensus estimate of $0.20 by ($0.07). The business had revenue of $884.68 million during the quarter, compared to analyst estimates of $458.67 million. Valley National Bancorp had a net margin of 10.79% and a return on equity of 6.53%. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, research analysts forecast that Valley National Bancorp will post 0.7 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.86%. Valley National Bancorp’s payout ratio is 51.76%.

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.