SG Americas Securities LLC Grows Holdings in Valley National Bancorp (NASDAQ:VLY)

SG Americas Securities LLC boosted its stake in Valley National Bancorp (NASDAQ:VLY) by 50.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,453 shares of the company’s stock after buying an additional 28,225 shares during the period. SG Americas Securities LLC’s holdings in Valley National Bancorp were worth $751,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VLY. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Valley National Bancorp by 9.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,527 shares of the company’s stock valued at $104,000 after buying an additional 1,002 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Valley National Bancorp by 2.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 44,848 shares of the company’s stock worth $406,000 after purchasing an additional 1,024 shares in the last quarter. United Services Automobile Association lifted its holdings in Valley National Bancorp by 3.7% in the 4th quarter. United Services Automobile Association now owns 28,702 shares of the company’s stock worth $260,000 after purchasing an additional 1,029 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Valley National Bancorp by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 48,118 shares of the company’s stock worth $436,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Valley National Bancorp by 12.0% in the 4th quarter. Empowered Funds LLC now owns 12,812 shares of the company’s stock worth $116,000 after buying an additional 1,371 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Valley National Bancorp Stock Up 1.2%

VLY opened at $8.67 on Friday. The firm has a 50-day simple moving average of $8.72 and a two-hundred day simple moving average of $9.15. Valley National Bancorp has a 52 week low of $6.50 and a 52 week high of $11.10. The company has a market capitalization of $4.86 billion, a PE ratio of 12.57 and a beta of 1.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $479.67 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.19 EPS. Analysts forecast that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Friday, June 13th. Valley National Bancorp’s dividend payout ratio is currently 63.77%.

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.