Valley National Bancorp (NASDAQ:VLY) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Valley National Bancorp (NASDAQ:VLY) by 46.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,791 shares of the company’s stock after purchasing an additional 2,151 shares during the quarter. GAMMA Investing LLC’s holdings in Valley National Bancorp were worth $62,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Retirement Systems of Alabama lifted its holdings in shares of Valley National Bancorp by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 535,546 shares of the company’s stock worth $4,263,000 after acquiring an additional 1,435 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Valley National Bancorp by 11.1% in the 2nd quarter. Diversified Trust Co now owns 14,317 shares of the company’s stock worth $100,000 after acquiring an additional 1,435 shares during the last quarter. State of Michigan Retirement System increased its stake in Valley National Bancorp by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 104,781 shares of the company’s stock worth $834,000 after buying an additional 2,500 shares during the period. Arizona State Retirement System increased its stake in Valley National Bancorp by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 121,095 shares of the company’s stock worth $845,000 after buying an additional 2,500 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Valley National Bancorp by 22.6% during the 2nd quarter. CIBC Asset Management Inc now owns 13,708 shares of the company’s stock worth $96,000 after buying an additional 2,529 shares during the period. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Trading Up 1.6 %

Shares of NASDAQ:VLY opened at $9.41 on Thursday. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22. The company’s 50 day moving average is $8.60 and its two-hundred day moving average is $7.81. 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 company has a market cap of $4.79 billion, a PE ratio of 13.25 and a beta of 1.08.

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

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Friday, September 13th. Valley National Bancorp’s payout ratio is 61.97%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays cut their target price on shares of Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. Royal Bank of Canada upped their target price on shares of Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Wedbush upped their target price on shares of 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, JPMorgan Chase & Co. upped their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.