Captrust Financial Advisors Has $348,000 Stake in Valley National Bancorp (NASDAQ:VLY)

Captrust Financial Advisors trimmed its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,415 shares of the company’s stock after selling 14,195 shares during the period. Captrust Financial Advisors’ holdings in Valley National Bancorp were worth $348,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VLY. R Squared Ltd bought a new stake in Valley National Bancorp in the fourth quarter valued at approximately $25,000. Optiver Holding B.V. increased its stake in Valley National Bancorp by 80.9% in the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after purchasing an additional 2,271 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in Valley National Bancorp in the fourth quarter valued at approximately $102,000. Sapient Capital LLC bought a new stake in Valley National Bancorp in the fourth quarter valued at approximately $103,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in Valley National Bancorp by 9.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock valued at $104,000 after purchasing an additional 1,002 shares in the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VLY shares. Piper Sandler raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. increased their price target on shares of Valley National Bancorp from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial initiated coverage on shares of Valley National Bancorp in a research note on Tuesday, May 13th. They set a “hold” rating and a $10.00 target price for the company. Royal Bank of Canada raised their price target on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Citigroup raised their price target on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.60.

Valley National Bancorp Trading Down 0.1%

VLY opened at $9.04 on Wednesday. The company’s 50 day moving average is $8.66 and its 200-day moving average is $9.39. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.06 billion, a P/E ratio of 13.10 and a beta of 1.05.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, April 24th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. Valley National Bancorp had a return on equity of 5.14% and a net margin of 10.62%. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

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.