Barclays PLC Buys 694,459 Shares of Valley National Bancorp $VLY

Barclays PLC raised its stake in Valley National Bancorp (NASDAQ:VLY) by 47.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,164,159 shares of the company’s stock after purchasing an additional 694,459 shares during the quarter. Barclays PLC owned 0.39% of Valley National Bancorp worth $22,940,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its position in shares of Valley National Bancorp by 99.3% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 258,002 shares of the company’s stock worth $2,735,000 after acquiring an additional 128,563 shares in the last quarter. Norges Bank purchased a new stake in shares of Valley National Bancorp during the second quarter valued at approximately $31,276,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Valley National Bancorp by 35.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 487,330 shares of the company’s stock worth $5,166,000 after purchasing an additional 128,865 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Valley National Bancorp in the 2nd quarter worth about $792,000. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Valley National Bancorp in the third quarter worth approximately $10,756,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Valley National Bancorp Trading Down 1.2%

Shares of Valley National Bancorp stock opened at $11.93 on Thursday. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 11.81 and a beta of 1.07. 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 firm’s 50 day simple moving average is $12.58 and its two-hundred day simple moving average is $11.54. Valley National Bancorp has a 12-month low of $7.48 and a 12-month high of $13.87.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Valley National Bancorp had a net margin of 17.11% and a return on equity of 7.92%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $524.31 million. During the same period in the previous year, the business posted $0.13 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts predict that Valley National Bancorp will post 0.99 EPS for the current year.

Valley National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 13th. This represents a $0.44 dividend on an annualized basis and a yield of 3.7%. Valley National Bancorp’s dividend payout ratio is currently 43.56%.

Analyst Ratings Changes

Several equities research analysts have recently commented on VLY shares. Weiss Ratings raised shares of Valley National Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. National Bank Financial set a $16.00 price objective on Valley National Bancorp in a research note on Friday, January 30th. UBS Group started coverage on shares of Valley National Bancorp in a research note on Monday, December 15th. They set a “buy” rating and a $15.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Valley National Bancorp from $14.00 to $14.50 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Keefe, Bruyette & Woods upped their price objective on Valley National Bancorp from $12.50 to $13.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Valley National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Insider Transactions at Valley National Bancorp

In related news, Director Carlos J. Vazquez purchased 2,500 shares of Valley National Bancorp stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $13.45 per share, for a total transaction of $33,625.00. Following the transaction, the director directly owned 4,252 shares in the company, valued at approximately $57,189.40. This trade represents a 142.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.43% of the stock is currently owned by insiders.

Valley National Bancorp 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.