Creative Planning Has $341,000 Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

Creative Planning decreased its position in shares of Valley National Bancorp (NASDAQ:VLY) by 39.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,871 shares of the company’s stock after selling 31,526 shares during the period. Creative Planning’s holdings in Valley National Bancorp were worth $341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Valley National Bancorp by 6.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,814,048 shares of the company’s stock valued at $30,561,000 after purchasing an additional 160,854 shares during the last quarter. Vanguard Group Inc. grew its holdings in Valley National Bancorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 45,625,380 shares of the company’s stock valued at $495,492,000 after buying an additional 198,236 shares during the last quarter. Park Avenue Securities LLC bought a new position in Valley National Bancorp in the 1st quarter worth approximately $243,000. Cornerstone Wealth Group LLC acquired a new position in shares of Valley National Bancorp during the first quarter worth approximately $504,000. Finally, State of Michigan Retirement System boosted its position in shares of Valley National Bancorp by 2.4% in the first quarter. State of Michigan Retirement System now owns 104,781 shares of the company’s stock valued at $834,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

VLY has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their target price on Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Wedbush increased 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. Finally, Barclays cut their price objective on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.88.

Valley National Bancorp Price Performance

Shares of NASDAQ VLY opened at $9.51 on Friday. 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’s 50-day moving average price is $8.63 and its 200-day moving average price is $7.82. The firm has a market capitalization of $4.84 billion, a P/E ratio of 13.39 and a beta of 1.08. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. The company had revenue of $884.68 million during the quarter, compared to analysts’ expectations of $458.67 million. During the same period last year, the company earned $0.28 earnings per share. Equities research analysts anticipate that Valley National Bancorp will post 0.69 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a yield of 4.63%. Valley National Bancorp’s payout ratio is 61.97%.

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.