Holocene Advisors LP bought a new stake in shares of Valley National Bancorp (NASDAQ:VLY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 482,820 shares of the company's stock, valued at approximately $4,374,000. Holocene Advisors LP owned 0.09% of Valley National Bancorp as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in VLY. Price T Rowe Associates Inc. MD raised its stake in Valley National Bancorp by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 228,399 shares of the company's stock valued at $1,819,000 after purchasing an additional 15,793 shares during the period. Comerica Bank raised its stake in Valley National Bancorp by 6.2% during the 1st quarter. Comerica Bank now owns 295,977 shares of the company's stock valued at $2,356,000 after purchasing an additional 17,282 shares during the period. Cetera Advisors LLC acquired a new stake in Valley National Bancorp during the 1st quarter valued at $229,000. Linden Thomas Advisory Services LLC raised its stake in Valley National Bancorp by 7.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 58,158 shares of the company's stock valued at $406,000 after purchasing an additional 4,069 shares during the period. Finally, Ignite Planners LLC raised its stake in Valley National Bancorp by 17.6% during the 2nd quarter. Ignite Planners LLC now owns 62,937 shares of the company's stock valued at $414,000 after purchasing an additional 9,424 shares during the period. 61.00% of the stock is owned by institutional investors and hedge funds.
NASDAQ VLY opened at $10.48 on Thursday. Valley National Bancorp has a fifty-two week low of $6.47 and a fifty-two week high of $11.22. The stock's 50-day moving average is $9.63 and its two-hundred day moving average is $8.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a market cap of $5.34 billion, a P/E ratio of 16.92 and a beta of 1.09.
Valley National Bancorp (NASDAQ:VLY - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Valley National Bancorp had a return on equity of 5.87% and a net margin of 9.42%. The company had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. During the same period last year, the company earned $0.26 earnings per share. On average, analysts anticipate that Valley National Bancorp will post 0.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.11 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.20%. Valley National Bancorp's payout ratio is presently 70.97%.
A number of equities analysts have recently weighed in on the stock. Barclays raised shares of Valley National Bancorp from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $9.00 to $10.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. upgraded Valley National Bancorp from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 11th. Wedbush reiterated a "neutral" rating and set a $10.00 price objective on shares of Valley National Bancorp in a report on Friday, October 25th. Morgan Stanley increased their price objective on Valley National Bancorp from $9.50 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. Finally, StockNews.com lowered Valley National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.88.
Check Out Our Latest Stock Report on Valley National Bancorp
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.
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