Valley National Bancorp (NASDAQ:VLY) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC boosted its position in Valley National Bancorp (NASDAQ:VLY) by 44.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 231,591 shares of the company’s stock after purchasing an additional 71,553 shares during the quarter. Pathstone Holdings LLC’s holdings in Valley National Bancorp were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLY. Harbor Capital Advisors Inc. acquired a new position in shares of Valley National Bancorp in the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Valley National Bancorp in the 2nd quarter valued at $38,000. Blue Trust Inc. lifted its stake in shares of Valley National Bancorp by 48.2% during the 3rd quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock worth $44,000 after purchasing an additional 1,564 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of 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 purchasing an additional 5,001 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Valley National Bancorp by 46.4% in the third quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock valued at $62,000 after purchasing an additional 2,151 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays upgraded Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $9.00 to $10.00 in a research report on Thursday, October 31st. Morgan Stanley boosted 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 report on Monday, September 30th. 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 report on Friday, October 25th. StockNews.com lowered Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Hold” and an average price target of $9.88.

Valley National Bancorp Stock Down 0.8 %

NASDAQ VLY opened at $10.69 on Wednesday. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.22. The stock has a market cap of $5.45 billion, a PE ratio of 17.24 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $9.48 and a two-hundred day moving average price of $8.28.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $921.22 million for the quarter, compared to the consensus estimate of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the prior year, the firm posted $0.26 EPS. As a group, sell-side analysts predict that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 4.12%. Valley National Bancorp’s payout ratio is 70.97%.

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.