International Assets Investment Management LLC Has $79,000 Stake in Valley National Bancorp (NASDAQ:VLY)

International Assets Investment Management LLC grew its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 557.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,679 shares of the company’s stock after acquiring an additional 7,358 shares during the period. International Assets Investment Management LLC’s holdings in Valley National Bancorp were worth $79,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VLY. BNP Paribas Financial Markets increased its holdings in Valley National Bancorp by 378.4% during the 1st quarter. BNP Paribas Financial Markets now owns 612,314 shares of the company’s stock worth $4,874,000 after purchasing an additional 484,332 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Valley National Bancorp in the 1st quarter valued at $160,000. Texas Permanent School Fund Corp raised its position in Valley National Bancorp by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 373,248 shares of the company’s stock valued at $2,971,000 after buying an additional 4,853 shares during the last quarter. Quantbot Technologies LP bought a new position in Valley National Bancorp during the 1st quarter valued at $2,630,000. Finally, SG Americas Securities LLC purchased a new position in Valley National Bancorp during the 1st quarter worth $1,021,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Valley National Bancorp Trading Down 4.5 %

NASDAQ:VLY opened at $10.05 on Friday. The company has a market cap of $5.12 billion, a PE ratio of 16.21 and a beta of 1.07. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $8.96 and a two-hundred day simple moving average of $8.02. 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 earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business 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 period in the prior year, the company earned $0.26 earnings per share. Research analysts forecast that Valley National Bancorp will post 0.66 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.11 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.38%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Analyst Ratings Changes

Several research firms have commented on VLY. Piper Sandler lifted their target price 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. Morgan Stanley boosted their price objective on Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Wedbush restated a “neutral” rating and issued a $10.00 price objective on shares of Valley National Bancorp in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their target price on Valley National Bancorp from $8.00 to $8.50 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Valley National Bancorp currently has a consensus rating of “Hold” and an average target price of $9.75.

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.