Valley National Bancorp (NASDAQ:VLY) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP cut its holdings in Valley National Bancorp (NASDAQ:VLY) by 64.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,953 shares of the company’s stock after selling 105,820 shares during the period. GSA Capital Partners LLP’s holdings in Valley National Bancorp were worth $534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new position in shares of Valley National Bancorp during the third quarter worth about $25,000. Innealta Capital LLC purchased a new stake in Valley National Bancorp in the 2nd quarter valued at approximately $38,000. EntryPoint Capital LLC purchased a new stake in Valley National Bancorp in the 1st quarter valued at approximately $43,000. Blue Trust Inc. boosted its holdings in Valley National Bancorp by 48.2% in the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after purchasing an additional 1,564 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after purchasing an additional 5,001 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VLY. JPMorgan Chase & Co. raised Valley National Bancorp from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.50 to $11.00 in a report on Monday, November 11th. Barclays raised Valley National Bancorp from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $9.00 to $10.00 in a report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wedbush reiterated a “neutral” rating and set a $10.00 price target on shares of Valley National Bancorp in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price target 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Valley National Bancorp has an average rating of “Hold” and a consensus target price of $9.88.

Valley National Bancorp Stock Down 0.4 %

Shares of Valley National Bancorp stock opened at $10.19 on Wednesday. The company has a fifty day moving average price of $9.28 and a 200 day moving average price of $8.18. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.22. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 16.44 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last issued 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 net margin of 9.42% and a return on equity of 5.87%. The firm had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same quarter in the previous year, the business posted $0.26 EPS. Equities research analysts forecast that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.11 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.32%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Valley National Bancorp Company 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.