Tidal Investments LLC Decreases Position in Valley National Bancorp (NASDAQ:VLY)

Tidal Investments LLC lowered its position in shares of Valley National Bancorp (NASDAQ:VLY) by 30.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,828 shares of the company’s stock after selling 7,259 shares during the quarter. Tidal Investments LLC’s holdings in Valley National Bancorp were worth $152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Valley National Bancorp in the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its holdings in shares of Valley National Bancorp by 48.2% in the third 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 during the last quarter. Innealta Capital LLC purchased a new position in Valley National Bancorp during the second quarter worth approximately $38,000. Hexagon Capital Partners LLC boosted its stake in Valley National Bancorp by 416.8% during the third quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock worth $56,000 after buying an additional 5,001 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Valley National Bancorp by 46.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after buying an additional 2,151 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Up 1.3 %

Shares of NASDAQ VLY opened at $9.23 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $4.70 billion, a PE ratio of 14.89 and a beta of 1.09. Valley National Bancorp has a twelve month low of $6.47 and a twelve month high of $11.18. The stock has a fifty day simple moving average of $9.93 and a 200-day simple moving average of $8.67.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $921.22 million during the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. During the same period in the previous year, the company posted $0.26 EPS. On average, equities analysts forecast that Valley National Bancorp will post 0.65 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 annualized dividend and a yield of 4.77%. Valley National Bancorp’s dividend payout ratio is presently 70.97%.

Analysts Set New Price Targets

VLY has been the topic of several analyst reports. Wedbush reiterated a “neutral” rating and set a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. Piper Sandler boosted their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Morgan Stanley raised their price target 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, September 30th. Royal Bank of Canada lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $10.50 to $11.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

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.