Mutual of America Capital Management LLC Sells 13,709 Shares of Valley National Bancorp (NASDAQ:VLY)

Mutual of America Capital Management LLC lessened its position in Valley National Bancorp (NASDAQ:VLY) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,177 shares of the company’s stock after selling 13,709 shares during the period. Mutual of America Capital Management LLC’s holdings in Valley National Bancorp were worth $2,094,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Valley National Bancorp in the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of Valley National Bancorp in the second quarter valued at about $38,000. EntryPoint Capital LLC acquired a new stake in shares of Valley National Bancorp during the 1st quarter worth about $43,000. Blue Trust Inc. boosted its holdings 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 buying an additional 1,564 shares during the period. Finally, Hexagon Capital Partners LLC grew its stake in Valley National Bancorp by 416.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 6,201 shares of the company’s stock valued at $56,000 after buying an additional 5,001 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Wedbush reissued a “neutral” rating and set a $10.00 price target on shares of Valley National Bancorp in a report on Friday, October 25th. Morgan Stanley boosted their price target on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price objective on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.88.

Valley National Bancorp Stock Up 3.0 %

VLY stock opened at $10.56 on Monday. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22. The business has a 50-day simple moving average of $9.40 and a 200 day simple moving average of $8.24. 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 company has a market cap of $5.38 billion, a PE ratio of 17.03 and a beta of 1.07.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates 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 net margin of 9.42% and a return on equity of 5.87%. During the same quarter in the prior year, the firm posted $0.26 EPS. Sell-side analysts anticipate that Valley National Bancorp will post 0.66 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.17%. Valley National Bancorp’s dividend payout ratio (DPR) is currently 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.