Waterfall Asset Management LLC Makes New $1.69 Million Investment in Valley National Bancorp (NASDAQ:VLY)

Waterfall Asset Management LLC bought a new stake in Valley National Bancorp (NASDAQ:VLY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 242,500 shares of the company’s stock, valued at approximately $1,693,000. Valley National Bancorp accounts for about 0.8% of Waterfall Asset Management LLC’s portfolio, making the stock its 15th largest holding.

Several other institutional investors also recently made changes to their positions in VLY. Innealta Capital LLC bought a new stake in shares of Valley National Bancorp during the second quarter valued at approximately $38,000. EntryPoint Capital LLC bought a new stake in Valley National Bancorp during the 1st quarter valued at $43,000. Wolverine Asset Management LLC boosted its position in Valley National Bancorp by 147.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 9,325 shares of the company’s stock worth $65,000 after acquiring an additional 5,560 shares during the period. AE Wealth Management LLC acquired a new position in Valley National Bancorp during the 2nd quarter worth $81,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Valley National Bancorp in the second quarter worth $94,000. 61.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Valley National Bancorp from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Barclays reduced their price target on shares of Valley National Bancorp from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. lowered their price objective on shares of Valley National Bancorp from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. StockNews.com cut Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley raised Valley National Bancorp from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $8.00 to $9.50 in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.56.

Valley National Bancorp Stock Down 0.5 %

Shares of Valley National Bancorp stock opened at $8.77 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. Valley National Bancorp has a 1 year low of $6.47 and a 1 year high of $11.22. The stock has a 50-day moving average price of $8.36 and a 200 day moving average price of $7.70. The company has a market cap of $4.47 billion, a P/E ratio of 10.32 and a beta of 1.08.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The company had revenue of $884.68 million for the quarter, compared to analyst estimates of $458.67 million. Valley National Bancorp had a return on equity of 6.53% and a net margin of 10.79%. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, analysts expect that Valley National Bancorp will post 0.7 EPS for the current fiscal year.

Valley National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, September 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 51.76%.

About 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.