Stieven Capital Advisors L.P. Lowers Position in Valley National Bancorp $VLY

Stieven Capital Advisors L.P. decreased its holdings in shares of Valley National Bancorp (NASDAQ:VLY) by 10.9% during the second quarter, HoldingsChannel reports. The firm owned 1,218,166 shares of the company’s stock after selling 148,400 shares during the period. Valley National Bancorp comprises 2.1% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 23rd largest holding. Stieven Capital Advisors L.P.’s holdings in Valley National Bancorp were worth $10,878,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Valley National Bancorp during the first quarter valued at approximately $35,000. Atlantic Union Bankshares Corp bought a new position in Valley National Bancorp in the second quarter worth approximately $39,000. Hantz Financial Services Inc. lifted its holdings in Valley National Bancorp by 11,831.1% during the second quarter. Hantz Financial Services Inc. now owns 5,369 shares of the company’s stock worth $48,000 after buying an additional 5,324 shares during the period. Signaturefd LLC boosted its position in Valley National Bancorp by 23.2% during the 2nd quarter. Signaturefd LLC now owns 6,895 shares of the company’s stock valued at $62,000 after acquiring an additional 1,297 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in Valley National Bancorp during the 2nd quarter valued at $95,000. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VLY. Jefferies Financial Group raised Valley National Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $14.00 in a research report on Wednesday, September 24th. Hovde Group initiated coverage on Valley National Bancorp in a research note on Wednesday, September 10th. They issued an “outperform” rating and a $12.50 target price on the stock. Janney Montgomery Scott upgraded shares of Valley National Bancorp to a “strong-buy” rating in a report on Wednesday, October 22nd. Cantor Fitzgerald raised their price target on shares of Valley National Bancorp from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, TD Cowen lifted their price objective on shares of 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 research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $13.25.

Valley National Bancorp Stock Down 0.4%

Valley National Bancorp stock opened at $10.48 on Friday. The business’s 50-day moving average price is $10.70 and its 200 day moving average price is $9.84. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 11.91 and a beta of 1.17. Valley National Bancorp has a 52 week low of $7.48 and a 52 week high of $11.35.

Valley National Bancorp (NASDAQ:VLY) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $511.08 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, sell-side analysts anticipate that Valley National Bancorp will post 0.99 earnings per share for the current year.

Valley National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a $0.11 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 4.2%. Valley National Bancorp’s dividend payout ratio (DPR) is 50.00%.

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.