Elizabeth Park Capital Advisors Ltd. Has $3.34 Million Stock Position in Valley National Bancorp $VLY

Elizabeth Park Capital Advisors Ltd. reduced its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 16.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 373,935 shares of the company’s stock after selling 74,050 shares during the quarter. Valley National Bancorp comprises about 3.0% of Elizabeth Park Capital Advisors Ltd.’s investment portfolio, making the stock its 10th biggest position. Elizabeth Park Capital Advisors Ltd. owned 0.07% of Valley National Bancorp worth $3,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank increased its position in shares of Valley National Bancorp by 14.4% during the 1st quarter. Swiss National Bank now owns 973,960 shares of the company’s stock valued at $8,659,000 after purchasing an additional 122,600 shares during the last quarter. Russell Investments Group Ltd. increased its position in Valley National Bancorp by 35.2% during the first quarter. Russell Investments Group Ltd. now owns 361,845 shares of the company’s stock valued at $3,216,000 after acquiring an additional 94,289 shares during the last quarter. Boothbay Fund Management LLC raised its stake in shares of Valley National Bancorp by 634.2% in the first quarter. Boothbay Fund Management LLC now owns 889,190 shares of the company’s stock valued at $7,905,000 after acquiring an additional 768,088 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Valley National Bancorp by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,817,098 shares of the company’s stock worth $69,494,000 after acquiring an additional 204,942 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Valley National Bancorp by 107.5% during the 1st quarter. Comerica Bank now owns 414,474 shares of the company’s stock worth $3,685,000 after purchasing an additional 214,769 shares during the period. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Valley National Bancorp Trading Up 0.3%

Shares of NASDAQ VLY opened at $11.55 on Friday. Valley National Bancorp has a twelve month low of $7.48 and a twelve month high of $11.65. The firm has a market cap of $6.44 billion, a PE ratio of 13.13 and a beta of 1.10. The business has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $10.03. 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 (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The business 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 revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 EPS. 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. Stockholders of record on Monday, December 15th will be issued a $0.11 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 3.8%. Valley National Bancorp’s payout ratio is currently 50.00%.

Analysts Set New Price Targets

A number of analysts recently weighed in on VLY shares. Wall Street Zen raised shares of Valley National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Janney Montgomery Scott upgraded Valley National Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Valley National Bancorp in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on Valley National Bancorp from $11.50 to $12.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Finally, TD Cowen lifted their target price on Valley National Bancorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $13.25.

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.