GAMMA Investing LLC Has $737,000 Stake in Valley National Bancorp (NASDAQ:VLY)

GAMMA Investing LLC boosted its stake in Valley National Bancorp (NASDAQ:VLY) by 988.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,899 shares of the company’s stock after buying an additional 75,283 shares during the quarter. GAMMA Investing LLC’s holdings in Valley National Bancorp were worth $737,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Valley National Bancorp in the 4th quarter valued at about $39,000. Optiver Holding B.V. raised its stake in Valley National Bancorp by 80.9% during the fourth quarter. Optiver Holding B.V. now owns 5,079 shares of the company’s stock valued at $46,000 after buying an additional 2,271 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter worth $102,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of 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 worth $104,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Valley National Bancorp during the fourth quarter valued at $104,000. Institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Price Performance

Shares of NASDAQ:VLY opened at $8.42 on Wednesday. Valley National Bancorp has a 52 week low of $6.50 and a 52 week high of $11.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.72 billion, a P/E ratio of 12.20 and a beta of 1.06. The company has a 50-day moving average price of $8.69 and a 200 day moving average price of $9.18.

Valley National Bancorp (NASDAQ:VLY) last announced its earnings results on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm 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 5.12% and a net margin of 11.03%. During the same quarter last year, the business posted $0.19 EPS. Research analysts predict that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.11 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.23%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 63.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VLY. Truist Financial initiated coverage on Valley National Bancorp in a research note on Tuesday, May 13th. They set a “hold” rating and a $10.00 price target for the company. Jefferies Financial Group began coverage on Valley National Bancorp in a research note on Wednesday, May 21st. They issued a “hold” rating and a $10.00 target price for the company. Barclays cut their price target on Valley National Bancorp from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler upgraded Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Monday, March 24th. Finally, Wall Street Zen cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, May 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.55.

Valley National Bancorp 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.