AE Wealth Management LLC Has $121,000 Stock Holdings in Valley National Bancorp (NASDAQ:VLY)

AE Wealth Management LLC lowered its holdings in shares of Valley National Bancorp (NASDAQ:VLY – Get Rating) by 8.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,194 shares of the company’s stock after selling 1,066 shares during the period. AE Wealth Management LLC’s holdings in Valley National Bancorp were worth $121,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. J.W. Cole Advisors Inc. bought a new stake in Valley National Bancorp during the 1st quarter worth $25,000. Sandy Spring Bank acquired a new stake in shares of Valley National Bancorp during the second quarter valued at about $46,000. CWM LLC grew its holdings in shares of Valley National Bancorp by 119.6% during the second quarter. CWM LLC now owns 4,920 shares of the company’s stock worth $51,000 after purchasing an additional 2,680 shares during the last quarter. Covestor Ltd boosted its position in Valley National Bancorp by 73.0% during the 1st quarter. Covestor Ltd now owns 6,213 shares of the company’s stock worth $81,000 after buying an additional 2,622 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Valley National Bancorp during the 2nd quarter worth approximately $104,000. 54.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VLY shares. Raymond James initiated coverage on shares of Valley National Bancorp in a research note on Tuesday, December 20th. They set a “strong-buy” rating and a $14.00 price target for the company. Piper Sandler decreased their price target on Valley National Bancorp to $14.00 in a research note on Wednesday, October 5th. Morgan Stanley began coverage on Valley National Bancorp in a research report on Monday, December 5th. They set an “equal weight” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Valley National Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, December 13th. Finally, StockNews.com assumed coverage on shares of Valley National Bancorp in a report on Wednesday, October 12th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Valley National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $13.71.

Valley National Bancorp Trading Down 0.8 %

NASDAQ VLY opened at $10.82 on Friday. The stock has a market capitalization of $5.48 billion, a P/E ratio of 10.21 and a beta of 1.12. The business has a 50 day simple moving average of $11.74 and a 200 day simple moving average of $11.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.96 and a quick ratio of 0.96. Valley National Bancorp has a one year low of $10.01 and a one year high of $14.80.

Valley National Bancorp (NASDAQ:VLY – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $510.19 million during the quarter, compared to the consensus estimate of $505.78 million. Valley National Bancorp had a net margin of 27.19% and a return on equity of 10.78%. Research analysts expect that Valley National Bancorp will post 1.31 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Wednesday, December 14th. Valley National Bancorp’s dividend payout ratio (DPR) is currently 41.51%.

Valley National Bancorp Profile

(Get Rating)

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, retail, insurance, and wealth management financial services products. It operates through Commercial Lending, Consumer Lending, and Investment Management segments. The company offers non-interest bearing, savings, NOW, money market, and time deposit accounts; commercial and industrial, commercial real estate, residential mortgage, and automobile loans; loans secured by the cash surrender value of life insurance; home equity loans and lines of credit; and secured and unsecured other consumer loans.