Blue Trust Inc. Buys 1,564 Shares of Valley National Bancorp (NASDAQ:VLY)

Blue Trust Inc. raised its holdings in Valley National Bancorp (NASDAQ:VLY) by 48.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,809 shares of the company’s stock after purchasing an additional 1,564 shares during the period. Blue Trust Inc.’s holdings in Valley National Bancorp were worth $44,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VLY. BNP Paribas Financial Markets increased its position in Valley National Bancorp by 378.4% in the 1st quarter. BNP Paribas Financial Markets now owns 612,314 shares of the company’s stock valued at $4,874,000 after acquiring an additional 484,332 shares during the period. SG Americas Securities LLC purchased a new stake in Valley National Bancorp during the first quarter worth about $1,021,000. State Board of Administration of Florida Retirement System increased its holdings in Valley National Bancorp by 74.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 248,318 shares of the company’s stock worth $1,977,000 after buying an additional 106,290 shares during the last quarter. State of Michigan Retirement System increased its holdings in Valley National Bancorp by 2.4% during the first 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 last quarter. Finally, Edgestream Partners L.P. increased its stake in shares of Valley National Bancorp by 821.0% in the first quarter. Edgestream Partners L.P. now owns 392,578 shares of the company’s stock worth $3,125,000 after purchasing an additional 349,954 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on VLY. Wedbush restated a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on shares of Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Piper Sandler lifted their price target on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada boosted 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Valley National Bancorp currently has a consensus rating of “Hold” and an average price target of $9.75.

Valley National Bancorp Trading Down 0.5 %

Valley National Bancorp stock opened at $9.42 on Friday. The stock has a market capitalization of $4.80 billion, a PE ratio of 15.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The business’s fifty day moving average is $8.89 and its 200 day moving average is $7.96. Valley National Bancorp has a one year low of $6.47 and a one year high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The business had revenue of $921.22 million for the quarter, compared to analysts’ expectations of $467.87 million. During the same period last year, the firm posted $0.26 earnings per share. On average, sell-side analysts predict that Valley National Bancorp will post 0.67 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.67%. Valley National Bancorp’s payout ratio is currently 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.