Profund Advisors LLC increased its position in Valley National Bancorp (NYSE:VLY) by 22.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,408 shares of the financial services provider’s stock after purchasing an additional 8,772 shares during the period. Profund Advisors LLC’s holdings in Valley National Bancorp were worth $532,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of VLY. CIBC Asset Management Inc purchased a new position in shares of Valley National Bancorp in the third quarter worth $126,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Valley National Bancorp in the fourth quarter worth $169,000. Wealth Advisors of Tampa Bay LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter worth $184,000. Derby & Company Inc. purchased a new position in shares of Valley National Bancorp in the fourth quarter worth $204,000. Finally, Virtu Financial LLC purchased a new position in shares of Valley National Bancorp in the fourth quarter worth $206,000. 51.42% of the stock is currently owned by institutional investors.
In related news, Director Peter J. Baum acquired 3,433 shares of Valley National Bancorp stock in a transaction on Monday, January 29th. The shares were acquired at an average cost of $12.70 per share, with a total value of $43,599.10. Following the transaction, the director now owns 41,086 shares in the company, valued at $521,792.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.45% of the stock is currently owned by insiders.
Several research analysts recently commented on VLY shares. Zacks Investment Research downgraded shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Royal Bank of Canada started coverage on shares of Valley National Bancorp in a research note on Thursday, December 21st. They issued an “outperform” rating and a $14.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $15.00 target price on shares of Valley National Bancorp in a research note on Friday, December 22nd. Piper Jaffray Companies raised shares of Valley National Bancorp from a “neutral” rating to an “overweight” rating and set a $13.50 price objective on the stock in a research report on Friday, January 5th. Finally, Hovde Group reissued a “buy” rating and set a $14.00 price objective on shares of Valley National Bancorp in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $13.64.
Valley National Bancorp (NYSE VLY) opened at $13.06 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.01. The stock has a market cap of $4,333.70, a price-to-earnings ratio of 22.52 and a beta of 0.93. Valley National Bancorp has a 1 year low of $10.61 and a 1 year high of $13.38.
Valley National Bancorp (NYSE:VLY) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $199.57 million for the quarter, compared to the consensus estimate of $194.26 million. Valley National Bancorp had a net margin of 17.08% and a return on equity of 8.20%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. equities research analysts predict that Valley National Bancorp will post 0.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 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 3.37%. The ex-dividend date is Wednesday, March 14th. Valley National Bancorp’s payout ratio is currently 75.86%.
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Valley National Bancorp Profile
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending, Commercial Lending, Investment Management, and Corporate and Other Adjustments.
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