Cwm LLC Has $201,000 Holdings in Valley National Bancorp (NASDAQ:VLY)

Cwm LLC grew its position in Valley National Bancorp (NASDAQ:VLY) by 171.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,232 shares of the company’s stock after purchasing an additional 14,054 shares during the period. Cwm LLC’s holdings in Valley National Bancorp were worth $201,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position 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 worth $495,492,000 after purchasing an additional 198,236 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Valley National Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after purchasing an additional 337,416 shares during the last quarter. AQR Capital Management LLC increased its position in Valley National Bancorp by 193.2% in the 2nd quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock worth $69,233,000 after purchasing an additional 6,703,552 shares during the last quarter. Millennium Management LLC increased its position in Valley National Bancorp by 995.0% in the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock worth $19,374,000 after purchasing an additional 2,522,204 shares during the last quarter. Finally, Leeward Investments LLC MA increased its position in Valley National Bancorp by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock worth $13,269,000 after purchasing an additional 101,099 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Valley National Bancorp Stock Performance

VLY opened at $8.99 on Wednesday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 10.58 and a beta of 1.08. The stock’s 50 day moving average price is $8.69 and its two-hundred day moving average price is $7.85. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.51. Valley National Bancorp has a 12-month low of $6.47 and a 12-month high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results 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 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 period last year, the business earned $0.28 EPS. On average, equities analysts forecast that Valley National Bancorp will post 0.7 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.11 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.89%. Valley National Bancorp’s dividend payout ratio is currently 51.76%.

Analysts Set New Price Targets

A number of brokerages have recently commented on VLY. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Royal Bank of Canada increased their price objective on Valley National Bancorp from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley increased their price objective 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. Finally, Wedbush increased their price objective on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp has a consensus rating of “Hold” and a consensus price target of $8.88.

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.