Cwm LLC Boosts Stake in Valley National Bancorp $VLY

Cwm LLC boosted its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 56.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,193 shares of the company’s stock after purchasing an additional 52,860 shares during the quarter. Cwm LLC’s holdings in Valley National Bancorp were worth $1,550,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Valley National Bancorp during the 2nd quarter worth approximately $31,276,000. Newbridge Financial Services Group Inc. bought a new stake in Valley National Bancorp in the 2nd quarter valued at about $792,000. Voya Investment Management LLC grew its holdings in Valley National Bancorp by 14.9% in the 1st quarter. Voya Investment Management LLC now owns 643,898 shares of the company’s stock worth $5,724,000 after buying an additional 83,573 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Valley National Bancorp by 43.4% during the first 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 during the period. Finally, Capital Fund Management S.A. bought a new stake in shares of Valley National Bancorp during the 2nd quarter worth about $425,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on VLY. Weiss Ratings upgraded Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. National Bankshares set a $14.50 target price on Valley National Bancorp in a research note on Tuesday, December 16th. JPMorgan Chase & Co. boosted their target price on Valley National Bancorp from $14.00 to $14.50 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Royal Bank Of Canada lifted their price objective on shares of Valley National Bancorp from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Cantor Fitzgerald boosted their price objective on shares of Valley National Bancorp from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Valley National Bancorp Price Performance

Shares of Valley National Bancorp stock opened at $11.69 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 13.28 and a beta of 1.09. The firm’s 50-day moving average price is $11.35 and its two-hundred day moving average price is $10.47. Valley National Bancorp has a 1-year low of $7.48 and a 1-year high of $12.18.

Valley National Bancorp (NASDAQ:VLY) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (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 business had revenue of $511.08 million for the quarter, compared to the consensus estimate of $511.47 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.44 dividend on an annualized basis and a yield of 3.8%. Valley National Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

Valley National Bancorp Company Profile

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.