SG Americas Securities LLC Has $416,000 Holdings in Valley National Bancorp (NASDAQ:VLY)

SG Americas Securities LLC boosted its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 189.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,928 shares of the company’s stock after buying an additional 30,073 shares during the period. SG Americas Securities LLC’s holdings in Valley National Bancorp were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of VLY. Goldman Sachs Group Inc. raised its holdings in Valley National Bancorp by 6.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,814,048 shares of the company’s stock worth $30,561,000 after buying an additional 160,854 shares during the period. Vanguard Group Inc. increased its holdings in shares of Valley National Bancorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 45,625,380 shares of the company’s stock valued at $495,492,000 after purchasing an additional 198,236 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Valley National Bancorp in the 1st quarter valued at about $243,000. Cornerstone Wealth Group LLC acquired a new position in shares of Valley National Bancorp in the 1st quarter valued at about $504,000. Finally, State of Michigan Retirement System increased its holdings in shares of Valley National Bancorp by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 104,781 shares of the company’s stock valued at $834,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

VLY has been the topic of a number of research reports. Wedbush upped their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Keefe, Bruyette & Woods upped their target price on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a report on Friday, July 26th. Barclays dropped their target price on Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Morgan Stanley upped their target price on Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.88.

Valley National Bancorp Trading Up 1.1 %

Shares of NASDAQ VLY opened at $9.51 on Friday. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 13.39 and a beta of 1.08. The business has a 50 day simple moving average of $8.63 and a 200 day simple moving average of $7.82. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 0.99.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The company had revenue of $884.68 million for the quarter, compared to the consensus estimate of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same period in the previous year, the company earned $0.28 EPS. On average, research 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. Shareholders 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 yield of 4.63%. Valley National Bancorp’s payout ratio is currently 61.97%.

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.