Atria Investments Inc Acquires 10,785 Shares of Valley National Bancorp (NASDAQ:VLY)

Atria Investments Inc raised its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 36.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,198 shares of the company’s stock after acquiring an additional 10,785 shares during the quarter. Atria Investments Inc’s holdings in Valley National Bancorp were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VLY. Dimensional Fund Advisors LP grew its position in Valley National Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock worth $179,537,000 after acquiring an additional 337,416 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Valley National Bancorp by 193.2% during the second quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after buying an additional 6,703,552 shares during the period. Millennium Management LLC boosted its position in shares of Valley National Bancorp by 995.0% during the second quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after buying an additional 2,522,204 shares during the period. Leeward Investments LLC MA boosted its position in shares of Valley National Bancorp by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock valued at $13,269,000 after buying an additional 101,099 shares during the period. Finally, Stieven Capital Advisors L.P. raised its stake in shares of Valley National Bancorp by 32.3% during the second quarter. Stieven Capital Advisors L.P. now owns 1,100,066 shares of the company’s stock valued at $7,678,000 after acquiring an additional 268,600 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Valley National Bancorp Stock Performance

Valley National Bancorp stock opened at $10.25 on Friday. The firm has a 50 day simple moving average of $9.36 and a 200-day simple moving average of $8.21. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22. 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 stock has a market cap of $5.22 billion, a price-to-earnings ratio of 16.53 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $921.22 million during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.26 EPS. On average, analysts expect that Valley National Bancorp will post 0.66 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued 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 4.29%. Valley National Bancorp’s payout ratio is 70.97%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VLY shares. JPMorgan Chase & Co. raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.50 to $11.00 in a research note on Monday, November 11th. Royal Bank of Canada lifted their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. 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 report on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp presently has an average rating of “Hold” and an average target price of $9.88.

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.