Valley National Bancorp (NASDAQ:VLY) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Valley National Bancorp (NASDAQ:VLY) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,494,390 shares of the company’s stock after buying an additional 439,831 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Valley National Bancorp worth $13,539,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in shares of Valley National Bancorp in the 3rd quarter worth approximately $25,000. Blue Trust Inc. increased its position in Valley National Bancorp by 48.2% in the third 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. Hexagon Capital Partners LLC lifted its stake in Valley National Bancorp by 416.8% in the third 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. GAMMA Investing LLC lifted its stake in 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 buying an additional 2,151 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Valley National Bancorp by 557.0% during the third quarter. International Assets Investment Management LLC now owns 8,679 shares of the company’s stock valued at $79,000 after acquiring an additional 7,358 shares during the period. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 4.1 %

Shares of NASDAQ:VLY opened at $8.62 on Friday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 13.90 and a beta of 1.12. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The company has a 50 day moving average price of $9.84 and a 200 day moving average price of $8.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.99.

Valley National Bancorp (NASDAQ:VLY) last issued its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 in the previous year, the firm posted $0.26 EPS. On average, research analysts anticipate that Valley National Bancorp will post 0.65 EPS for the current fiscal year.

Valley National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Friday, December 13th. Valley National Bancorp’s dividend payout ratio is presently 70.97%.

Analysts Set New Price Targets

VLY has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective 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. Barclays lifted their price target on Valley National Bancorp from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wedbush reissued a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a report on Friday, October 25th. Stephens reaffirmed an “overweight” rating and set a $12.50 target price on shares of Valley National Bancorp in a research note on Thursday, January 2nd. Finally, Citigroup decreased their price target on Valley National Bancorp from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, December 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.39.

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.