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

HighTower Advisors LLC raised its stake in Valley National Bancorp (NASDAQ:VLY) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,831 shares of the company’s stock after buying an additional 1,806 shares during the quarter. HighTower Advisors LLC’s holdings in Valley National Bancorp were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Valley National Bancorp during the 3rd quarter valued at about $25,000. Innealta Capital LLC bought a new position in Valley National Bancorp during the second quarter valued at approximately $38,000. Blue Trust Inc. lifted its stake in Valley National Bancorp by 48.2% in the third quarter. Blue Trust Inc. now owns 4,809 shares of the company’s stock valued at $44,000 after acquiring an additional 1,564 shares during the last quarter. Hexagon Capital Partners LLC grew its position 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 worth $56,000 after acquiring an additional 5,001 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Valley National Bancorp by 46.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,791 shares of the company’s stock worth $62,000 after purchasing an additional 2,151 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

VLY has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Wedbush reissued a “neutral” rating and set a $10.00 price objective on shares of Valley National Bancorp in a report on Friday, October 25th. Piper Sandler boosted their target price on Valley National Bancorp from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their target price on Valley National Bancorp from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Valley National Bancorp presently has an average rating of “Hold” and an average price target of $10.00.

Valley National Bancorp Stock Down 0.5 %

Shares of VLY stock opened at $9.11 on Tuesday. The stock has a 50 day moving average of $9.94 and a 200-day moving average of $8.63. The firm has a market cap of $4.64 billion, a PE ratio of 14.69 and a beta of 1.09. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. Valley National Bancorp has a 12 month low of $6.47 and a 12 month high of $11.18.

Valley National Bancorp (NASDAQ:VLY) last released its earnings results on Thursday, October 24th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. The firm had revenue of $921.22 million during the quarter, compared to analysts’ expectations of $467.87 million. During the same period in the prior year, the company earned $0.26 EPS. On average, equities analysts predict that Valley National Bancorp will post 0.65 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

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.