Valley National Bancorp (NASDAQ:VLY) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in shares of Valley National Bancorp (NASDAQ:VLY) by 332.7% during the third quarter, HoldingsChannel.com reports. The firm owned 163,478 shares of the company’s stock after purchasing an additional 125,695 shares during the period. Intech Investment Management LLC’s holdings in Valley National Bancorp were worth $1,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Valley National Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 25,722,816 shares of the company’s stock valued at $179,537,000 after acquiring an additional 337,416 shares during the last quarter. AQR Capital Management LLC grew its stake in Valley National Bancorp by 193.2% in the 2nd quarter. AQR Capital Management LLC now owns 10,173,791 shares of the company’s stock valued at $69,233,000 after acquiring an additional 6,703,552 shares during the last quarter. Victory Capital Management Inc. grew its stake in Valley National Bancorp by 1,501.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,676,685 shares of the company’s stock valued at $51,431,000 after acquiring an additional 5,322,278 shares during the last quarter. Millennium Management LLC grew its stake in Valley National Bancorp by 995.0% in the 2nd quarter. Millennium Management LLC now owns 2,775,698 shares of the company’s stock valued at $19,374,000 after acquiring an additional 2,522,204 shares during the last quarter. Finally, Leeward Investments LLC MA grew its stake in Valley National Bancorp by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 1,900,986 shares of the company’s stock valued at $13,269,000 after acquiring an additional 101,099 shares during the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VLY has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Valley National Bancorp from $9.50 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com lowered shares of Valley National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Barclays upgraded shares of Valley National Bancorp from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $9.00 to $10.00 in a report on Thursday, October 31st. Royal Bank of Canada upped their target price on shares of Valley National Bancorp from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Piper Sandler upped their target price on shares of Valley National Bancorp from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.88.

Valley National Bancorp Trading Up 2.1 %

Shares of VLY stock opened at $10.78 on Tuesday. The firm has a market cap of $5.49 billion, a P/E ratio of 17.39 and a beta of 1.07. Valley National Bancorp has a 1-year low of $6.47 and a 1-year high of $11.22. 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’s 50-day simple moving average is $9.44 and its 200-day simple moving average is $8.26.

Valley National Bancorp (NASDAQ:VLY) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $921.22 million for the quarter, compared to analyst estimates of $467.87 million. Valley National Bancorp had a net margin of 9.42% and a return on equity of 5.87%. During the same period in the prior year, the firm posted $0.26 EPS. As a group, equities analysts forecast that Valley National Bancorp will post 0.66 EPS for the current year.

Valley National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Friday, December 13th. Valley National Bancorp’s dividend payout ratio (DPR) is presently 70.97%.

Valley National Bancorp Company 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.