Capital Fund Management S.A. Acquires Shares of 47,623 Valley National Bancorp $VLY

Capital Fund Management S.A. bought a new position in shares of Valley National Bancorp (NASDAQ:VLY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 47,623 shares of the company’s stock, valued at approximately $425,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Valley National Bancorp by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,040,885 shares of the company’s stock worth $267,054,000 after buying an additional 1,377,676 shares in the last quarter. Geode Capital Management LLC raised its stake in Valley National Bancorp by 4.1% during the second quarter. Geode Capital Management LLC now owns 12,791,712 shares of the company’s stock worth $114,242,000 after acquiring an additional 499,647 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Valley National Bancorp by 101.5% in the first quarter. AQR Capital Management LLC now owns 10,218,329 shares of the company’s stock worth $89,308,000 after acquiring an additional 5,147,786 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Valley National Bancorp by 43.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,214,867 shares of the company’s stock valued at $90,810,000 after purchasing an additional 3,091,169 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Valley National Bancorp by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,817,098 shares of the company’s stock valued at $69,494,000 after purchasing an additional 204,942 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VLY. Wall Street Zen raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Janney Montgomery Scott upgraded shares of Valley National Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Cowen reiterated a “buy” rating on shares of Valley National Bancorp in a research note on Monday, October 27th. Keefe, Bruyette & Woods raised their price objective on Valley National Bancorp from $11.50 to $12.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Finally, Citigroup raised 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Valley National Bancorp presently has a consensus rating of “Buy” and a consensus price target of $13.25.

Valley National Bancorp Stock Performance

NASDAQ VLY opened at $11.55 on Friday. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 13.13 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. Valley National Bancorp has a twelve month low of $7.48 and a twelve month high of $11.65. The stock has a fifty day simple moving average of $10.82 and a 200 day simple moving average of $10.02.

Valley National Bancorp (NASDAQ:VLY) last announced 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. The firm had revenue of $511.08 million for the quarter, compared to the consensus estimate of $511.47 million. Valley National Bancorp had a return on equity of 6.67% and a net margin of 14.86%.The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Sell-side analysts expect that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 15th. Valley National Bancorp’s dividend payout ratio is currently 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.