Focus Partners Wealth Purchases New Stake in Valley National Bancorp (NASDAQ:VLY)

Focus Partners Wealth purchased a new stake in Valley National Bancorp (NASDAQ:VLY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,107 shares of the company’s stock, valued at approximately $409,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Valley National Bancorp during the fourth quarter worth $31,490,000. Xponance Inc. raised its holdings in shares of Valley National Bancorp by 13.7% during the fourth quarter. Xponance Inc. now owns 66,588 shares of the company’s stock worth $603,000 after purchasing an additional 8,032 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Valley National Bancorp by 17.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,600 shares of the company’s stock worth $323,000 after purchasing an additional 5,181 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Valley National Bancorp by 27.8% during the fourth quarter. Bank of New York Mellon Corp now owns 6,101,280 shares of the company’s stock worth $55,278,000 after purchasing an additional 1,327,829 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Valley National Bancorp by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,612,156 shares of the company’s stock worth $68,966,000 after purchasing an additional 640,933 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VLY has been the topic of a number of research reports. Barclays dropped their target price on shares of Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citigroup increased their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Royal Bank of Canada increased their target price on shares of Valley National Bancorp from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. StockNews.com cut shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Valley National Bancorp from $10.50 to $11.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Valley National Bancorp presently has an average rating of “Hold” and an average price target of $10.60.

Valley National Bancorp Stock Down 0.1%

Valley National Bancorp stock opened at $9.04 on Wednesday. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 13.10 and a beta of 1.05. 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’s 50-day moving average price is $8.66 and its two-hundred day moving average price is $9.39. Valley National Bancorp has a 52 week low of $6.47 and a 52 week high of $11.10.

Valley National Bancorp (NASDAQ:VLY) last released 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 company had revenue of $479.67 million for the quarter, compared to analyst estimates of $483.98 million. Valley National Bancorp had a net margin of 10.62% and a return on equity of 5.14%. During the same period in the previous year, the business posted $0.19 EPS. On average, analysts expect that Valley National Bancorp will post 0.99 EPS 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.