Valley National Bancorp (NASDAQ:VLY) Stock Position Lifted by Cwm LLC

Cwm LLC lifted its holdings in Valley National Bancorp (NASDAQ:VLY) by 171.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,232 shares of the company’s stock after purchasing an additional 14,054 shares during the quarter. Cwm LLC’s holdings in Valley National Bancorp were worth $201,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of VLY. Vanguard Group Inc. grew its stake in shares of Valley National Bancorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 45,625,380 shares of the company’s stock worth $495,492,000 after purchasing an additional 198,236 shares in the last quarter. Park Avenue Securities LLC bought a new position in Valley National Bancorp during the first quarter valued at about $243,000. Cornerstone Wealth Group LLC bought a new position in Valley National Bancorp during the first quarter valued at about $504,000. State of Michigan Retirement System boosted its stake 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 valued at $834,000 after buying an additional 2,500 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Valley National Bancorp by 1.6% during the first quarter. Principal Financial Group Inc. now owns 1,619,511 shares of the company’s stock valued at $12,891,000 after buying an additional 26,209 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

VLY has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Wedbush raised their target price on Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods raised their target price on Valley National Bancorp from $8.00 to $8.50 and gave the company a “market perform” rating in a research note on Friday, July 26th. Morgan Stanley raised their target price 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. Finally, StockNews.com downgraded Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.88.

Valley National Bancorp Trading Up 0.6 %

Shares of NASDAQ VLY opened at $8.99 on Wednesday. The business has a fifty day simple moving average of $8.69 and a 200-day simple moving average of $7.85. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 10.58 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.51. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.22.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business had revenue of $884.68 million during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.28 earnings per share. Sell-side analysts predict that Valley National Bancorp will post 0.7 EPS for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.89%. The ex-dividend date was Friday, September 13th. Valley National Bancorp’s dividend payout ratio is currently 51.76%.

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.