218,706 Shares in Valley National Bancorp $VLY Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in shares of Valley National Bancorp (NASDAQ:VLYFree Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 218,706 shares of the company’s stock, valued at approximately $3,205,000.

A number of other institutional investors have also recently added to or reduced their stakes in VLY. Compass Financial Management LLC acquired a new stake in Valley National Bancorp in the second quarter worth $28,000. Cedar Mountain Advisors LLC acquired a new position in shares of Valley National Bancorp during the first quarter valued at $26,000. Assetmark Inc. grew its position in shares of Valley National Bancorp by 123.7% during the first quarter. Assetmark Inc. now owns 2,150 shares of the company’s stock worth $26,000 after acquiring an additional 1,189 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Valley National Bancorp during the fourth quarter worth about $26,000. Finally, Root Financial Partners LLC increased its holdings in shares of Valley National Bancorp by 127.3% in the 1st quarter. Root Financial Partners LLC now owns 3,976 shares of the company’s stock worth $49,000 after acquiring an additional 2,227 shares during the period. 61.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Valley National Bancorp

In other news, CAO Mitchell L. Crandell sold 25,495 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $14.63, for a total value of $372,991.85. Following the completion of the sale, the chief accounting officer directly owned 76,116 shares of the company’s stock, valued at approximately $1,113,577.08. This represents a 25.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

VLY has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Valley National Bancorp from $17.50 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. National Bank Financial set a $17.50 target price on shares of Valley National Bancorp in a research report on Wednesday, July 1st. Morgan Stanley restated a “positive” rating on shares of Valley National Bancorp in a research note on Monday, June 29th. TD Cowen restated a “buy” rating on shares of Valley National Bancorp in a research note on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods lifted their price target on Valley National Bancorp from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.10.

Get Our Latest Analysis on VLY

Valley National Bancorp Price Performance

Shares of VLY opened at $13.81 on Thursday. Valley National Bancorp has a one year low of $9.64 and a one year high of $15.20. The stock’s fifty day moving average is $14.52 and its 200-day moving average is $13.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 11.70 and a beta of 1.03.

Valley National Bancorp (NASDAQ:VLYGet Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $560.74 million during the quarter, compared to analyst estimates of $557.16 million. Valley National Bancorp had a return on equity of 9.13% and a net margin of 19.49%.The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. Equities analysts anticipate that Valley National Bancorp will post 1.27 EPS for the current year.

Valley National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 15th. Valley National Bancorp’s payout ratio is 37.29%.

Valley National Bancorp Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Valley National Bancorp (NASDAQ:VLY)

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