Brighton Jones LLC Buys New Shares in Valley National Bancorp $VLY

Brighton Jones LLC acquired a new stake in shares of Valley National Bancorp (NASDAQ:VLY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,594 shares of the company’s stock, valued at approximately $95,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Valley National Bancorp by 1.0% during the first quarter. Principal Financial Group Inc. now owns 1,100,892 shares of the company’s stock valued at $9,787,000 after purchasing an additional 10,996 shares during the period. GAMMA Investing LLC raised its stake in Valley National Bancorp by 22.4% during the 1st quarter. GAMMA Investing LLC now owns 9,325 shares of the company’s stock worth $83,000 after buying an additional 1,709 shares during the period. Hourglass Capital LLC raised its stake in Valley National Bancorp by 6.3% during the 1st quarter. Hourglass Capital LLC now owns 444,513 shares of the company’s stock worth $3,952,000 after buying an additional 26,280 shares during the period. OneDigital Investment Advisors LLC raised its stake in Valley National Bancorp by 33.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 17,058 shares of the company’s stock worth $152,000 after buying an additional 4,261 shares during the period. Finally, Swiss National Bank raised its position in shares of Valley National Bancorp by 14.4% during the first quarter. Swiss National Bank now owns 973,960 shares of the company’s stock worth $8,659,000 after purchasing an additional 122,600 shares during the period. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

VLY has been the topic of a number of research reports. Janney Montgomery Scott raised Valley National Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. National Bankshares set a $15.00 price objective on shares of Valley National Bancorp in a report on Monday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Citigroup upgraded shares of Valley National Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $10.00 to $13.50 in a report on Monday, September 15th. Finally, Morgan Stanley upped their target price on shares of Valley National Bancorp from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Valley National Bancorp currently has a consensus rating of “Buy” and a consensus price target of $13.25.

Valley National Bancorp Stock Up 0.2%

VLY opened at $10.87 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $10.63 and its 200 day moving average is $9.63. Valley National Bancorp has a fifty-two week low of $7.48 and a fifty-two week high of $11.35. The firm has a market capitalization of $6.08 billion, a P/E ratio of 12.35 and a beta of 1.12.

Valley National Bancorp (NASDAQ:VLY) last posted its earnings results on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Valley National Bancorp had a net margin of 14.86% and a return on equity of 6.67%. The firm had revenue of $511.11 million for the quarter, compared to analysts’ expectations of $511.47 million. During the same quarter last year, the firm earned $0.18 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Valley National Bancorp will post 0.99 earnings per share for the current fiscal year.

Valley National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, December 15th. Valley National Bancorp’s dividend payout ratio (DPR) is 50.00%.

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.